The Legislative Yuan today passed revisions to the special resilience act, raising the funding ceiling from NT$545 billion to NT$570 billion (US$18.64 billion) and setting a timeline for distributing a universal cash handout to all citizens.
The legislature passed amendments to the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及民生國安韌性特別條例).
The Executive Yuan originally proposed a NT$410 billion special budget, which included NT$100 billion in subsidies for Taiwan Power Co (Taipower, 台電).
Photo: CNA
A proposed NT$10,000 cash handout, originally put forward by the Chinese Nationalist Party (KMT) and rejected by the Executive Yuan, increased the budget’s ceiling to NT$545 billion.
Further amendments passed by the Executive Yuan earlier this month raised the budget’s ceiling to NT$590 billion, accounting for an initial NT$570-billion special budget followed by an additional NT$20 billion based on industry needs.
This version of the budget also allocated NT$20 billion for Taipower to upgrade the power grid, but that was removed today by opposition lawmakers.
The universal cash payments would start within one month of the special budget’s promulgation and be complete within seven months.
During the legislature’s discussion today, KMT Legislator Wang Hung-wei (王鴻薇) said that her party had kept its promise to give money back to citizens.
The NT$20 billion for Taipower was cut as the government is already working on such a project, Taiwan People’s Party Legislator Chang Chi-kai (張啓楷) said.
Democratic Progressive Party caucus chief executive Rosalia Wu (吳思瑤) said that the Executive Yuan’s proposal sought to support industries, people’s livelihoods and the disadvantaged, but the cuts to Taipower show that the KMT and TPP would sacrifice Taiwan’s industrial growth.
The special budget would be in effect from March 12 of this year through Dec. 31, 2027.
The Executive Yuan is required to compile a budget in accordance with today’s legislation and submit it to the Legislative Yuan within one month.
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