The Chinese Nationalist Party (KMT) is pushing for a universal cash payment of NT$10,000 (USD$304.43) to be made by the government to every citizen after the Ministry of Finance estimated that record-high tax revenues have been collected.
On Monday, the Ministry of Finance revised the amount of tax revenue collected for the 2024 fiscal year to a new total of NT$3.76 trillion (USD$114.55 billion), exceeding the budget by a record NT$528.3 billion.
In a news conference today at the Legislative Yuan, KMT caucus deputy secretary-general Wang Hung-wei (王鴻薇), with legislators Lo Chih-chiang (羅智強) and Chang Chih-lun (張智倫), announced their push for a “Return Money to the People 2.0” plan that would provide every citizen with NT$10,000.
Photo: Taipei Times
The 2.0 is in reference to a prior tax surplus dispersal in 2023 which included a NT$6,000 payment to citizens and eligible foreign nationals.
A NT$10,000 cash dispersal would not even reach NT$230 billion, less than half of the tax surplus, Wang said.
KMT caucus whip Fu Kun-chi (傅崐萁) said surplus tax revenues should be shared with citizens and that the proposal is in line with the party’s goal to focus on improving citizens’ wellbeing this legislative session.
President William Lai (賴清德) should uphold his promise to improve the public's economic situation, and this payment would enable people to enjoy the benefits of Taiwan’s economic growth, helping them cope with the increasing cost of living, Lo said.
The tax revenue should be shared by everyone, through investments in social welfare, national defense and economic development, Democratic Progressive Party (DPP) caucus chief executive Rosalia Wu (吳思瑤) told a news conference today.
The NT$528.3 billion surplus is not solely from the central government, but also includes NT$80.2 billion from local governments and NT$72.4 billion in funds that are already designated for use through legislation, Wu said.
The figures that the KMT is referring to have yet to be finalized, Wu added, and the funds must go through a formal accounting process before the government can then allocate them.
This proposal does not improve people’s lives and is an attempt by the KMT to appeal to voters to avoid the consequences of their unpopular moves, she said.
If the KMT wishes to return tax revenues to the people, then they should start with KMT-led local governments that reported a surplus, Wu added.
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