On July 4, the Special Committee on Budget and Accounts of the National Assembly passed the supplementary budget bill, led by the Democratic Party of Korea. The main opposition party, the People Power Party, walked out in protest, opposing the passage of the supplementary budget bill without bipartisan agreement.
The Democratic Party pushed through the supplementary budget bill totaling 31.7914 trillion won through the Budget Adjustment Subcommittee of the Special Committee on Budget and Accounts on the same day. This amount is approximately 1.3 trillion won more than the 30.5 trillion won submitted by the government.
The supplementary budget bill includes 12.1709 trillion won for the livelihood recovery consumption coupon program and 10.5 billion won in special activity expenses for four agencies: the Presidential Office, Ministry of Justice, Board of Audit and Inspection, and National Police Agency.
The budget for the livelihood recovery consumption coupon program, one of the key projects of the Lee Jaemyung administration, was increased by 1.8742 trillion won from the government’s proposal of 10.2967 trillion won by adjusting the ratio of central government funding. As for the special activity expenses for the Presidential Office and other agencies, the Democratic Party, which was the opposition party during the previous administration, had previously cut the entire amount, but has now partially restored it.
The National Assembly will hold a plenary session later in the day to vote on the supplementary budget bill that passed the Special Committee on Budget and Accounts.
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