Taiwan Future Account Special Statute: TPP Caucus Pushes for July 3rd Legislative Vote

(CNA, reporter Tseng Yi-ning, Taipei, July 1) The Taiwan People's Party (TPP) legislative caucus announced today that the "Taiwan Future Account Special Statute Draft," after committee review and a one-month consultation period, will be sent to the plenary session for a vote as early as July 3rd. They urged President Lai Ching-te to support it, stating, "Don't pass off plagiarism as an achievement."

During a press conference today titled "Taiwan's Good Life" showcasing the ruling Democratic Progressive Party's (DPP) 2026 local election achievements and joint policy proposals, President Lai Ching-te, who also serves as DPP chairman, stated that Taiwan is the first country to implement the "0-to-18-year-old Growth Allowance" policy. He contrasted this with the US's "Trump Account," which provides a one-time $1,000, noting that the eligibility for the "0-to-18-year-old Growth Allowance" is not limited to children born during his term, ensuring every child receives government care.

In response, the TPP legislative caucus issued a press release stating that on December 25th of last year, the TPP and the Kuomintang (KMT) jointly proposed the "Taiwan Future Account (TFA)" growth allowance plan.

The TPP caucus explained that according to the original plan, children born after September 2013 and under 12 years old would receive an initial deposit of NT$50,000 from the government at birth. Annually, until they turn 12, the government would deposit an additional NT$10,000. After investment gains, this "first pot of gold" would be available to the child at age 18 for six purposes, including studying abroad, further education, entrepreneurship, and rent, aiming to assist the DPP government in addressing the severe low birth rate crisis.

The TPP caucus asserted that President Lai announced the "0-to-18-year-old National Nurturing" plan with great fanfare six months later, copying nearly 80% of the opposition's proposal, but doing so slowly and poorly.

The TPP caucus pointed out that the original spirit of the Taiwan Future Account was for the funds to be used entirely by the child, with restrictions on usage and strict government review of investment projects, overseen by a fund management committee that would review investment performance every three years. However, the "0-to-18-year-old National Nurturing" plan directly disburses funds to parents. Concerns were raised about whether these funds would directly benefit the child and how they would be managed by parents in cases of child abuse.

The TPP caucus also noted that the Taiwan Future Account design allows parents to make additional deposits to increase the child's "first pot of gold," whereas President Lai's proposal limits additional deposits to "low-income or low-middle-income" disadvantaged families.

The TPP caucus stated that the "Taiwan Future Account Special Statute Draft" has passed committee review and completed the one-month consultation period. The TPP caucus can send it to the plenary session for a vote as early as July 3rd. The TPP caucus added that if President Lai is truly committed to resolving the national security crisis of low birth rates, he should support the original Taiwan Future Account and "not pass off plagiarism as an achievement." (Editor: Chai Szu Chia) 1150701

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