National Assembly Livelihood Special Committee Activated... Full-Scale Discussion on Livelihood Bills Including Fuel Tax Reduction and Introduction of Delivery Price Linkage System

[Asia Economy Reporter Oh Ju-yeon] The National Assembly's Special Committee on Livelihood and Economic Stability (Livelihood Special Committee), which will handle livelihood bills such as 'fuel tax reduction' and 'delivery price linkage system,' officially started operations on the 26th.

[Image source=Yonhap News]

The Livelihood Special Committee, composed of ruling and opposition party members, held its first meeting at the National Assembly in the morning and approved the appointment of the chairperson and the ruling and opposition party secretaries.

At this meeting, Representative Kim Jeong-jae from the People Power Party and Representative Kim Seong-hwan from the Democratic Party of Korea were appointed as the ruling and opposition party secretaries, respectively. The chairperson of the Livelihood Special Committee is Representative Ryu Seong-geol of the People Power Party.

The Livelihood Special Committee plans to handle 29 bills directly related to the livelihood economy, including ▲additional expansion of fuel tax reduction (Restriction of Special Taxation Act, Transportation Energy and Environment Tax Act, Individual Consumption Tax Act) ▲expansion of income deduction for meal expenses for office workers (Income Tax Act) ▲introduction of delivery price linkage system (Act on Promotion of Mutual Cooperation between Large, Medium, and Small Enterprises, Fair Transactions in Subcontracting Act).

Full-scale discussions for the passage of related bills will take place on the 29th.

Chairperson Ryu emphasized at the meeting, "Due to the prolonged Russia-Ukraine conflict, global economic recession, and rising energy and raw material prices, economic uncertainty is increasing, and domestic and international prices continue to rise, placing an increasing burden on the livelihood economy. We have been entrusted with the difficult and important task of preparing urgent measures for livelihood issues such as expanding the fuel tax reduction."

He added, "The special committee's activity period is only about three months left, and it overlaps with the regular National Assembly session including the audit, so swift and substantial progress in the committee is necessary. I earnestly ask for your cooperation so that we can achieve tangible results that meet the public's expectations and serve as a starting point for practicing livelihood politics."

Ruling party secretary Kim Jeong-jae said, "I have heard many voices suffering from high fuel prices and food prices. I hope that through diligent committee activities, we can produce visible results that will relieve the many people who are sighing."

Opposition party secretary Kim Seong-hwan also said, "I will work hard to ease the financial burdens of ordinary people even a little."

This content was produced with the assistance of AI translation services.