TAIPEI (Taiwan News) — The Legislative Yuan has completed the first review phase for Taiwan’s NT$10,000 (US$327) cash handout, with payments expected to begin before Nov. 17.
The Finance Committee conducted a two-day review of the Cabinet's special relief act. After which lawmakers on Thursday approved a proposal by Legislator Lai Hui-yuan (賴惠員) regarding the cash payout, per Yahoo Finance.
The proposal notes the special budget was drafted to address international economic conditions and domestic livelihood needs. It plans a cash payout policy to stimulate domestic consumption, boost economic momentum, and ensure the economic welfare of all citizens.
Finance Minister Chuang Tsui-yun (莊翠雲) said on Wednesday that if the bill completes its third reading on Oct. 17, it will be promptly submitted to the president for promulgation, per CNA. Chuang said the government “will definitely” begin disbursement before Nov. 17 to ensure timely benefit for citizens.
The cash payout offers five collection methods: online registration for bank transfer, ATM withdrawal, post office withdrawal, direct deposit for designated groups, and roster distribution for those unable to use the other methods. During the previous NT$6,000 handout, 4.25 million people received funds via direct deposit, and the government is verifying records to prevent duplication.
After the Finance Committee’s preliminary approval, the Procedure Committee will schedule the bill on Oct. 14. Once the third reading is completed on Oct. 17, the payout process can begin.
