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The National Assembly kicked off another extraordinary session on Monday with the rival parties saying
they will put partisan politics aside and cooperate as best as they can to process a
raft of bills aimed at improving the people's livelihoods.
But as our Kim Yeon-ji tells us, there are still some lingering points of contention
between them.
Lawmakers are determined to process some 80 bills in the April extraordinary session that
went untouched in the February and March sessions because of partisan bickering over the president's
plan to restructure the government.
The bills on the table now are aimed at creating a more level playing field for small and medium-sized
firms and boosting the welfare system.
The ruling and opposition parties agree on the general direction of the policies, so
things are expected to proceed rather smoothly.
But the parties differ quite a bit on a new tax break for home buyers.
The ruling Saenuri Party supports a government plan to exempt home buyers from capital gains
taxes for five years when they purchase a new housing unit worth 900 million won or
less, which is roughly 800-thousand U.S. dollars.
As an alternative, people who buy an existing unit of 85 square meters or smaller that's
worth the same dollar amount would also be eligible for a tax break.
However, the main opposition Democratic United Party says the tax break should be for people
purchasing homes worth 600 million won or less,.. which is roughly 528-thousand dollars.
The DUP says the government plan is unfairly weighted toward those purchasing homes in
the affluent Gangnam area of Seoul, where there is a high concentration of housing that
fits the criteria of 900 million won or less and 85 square meters or smaller.
The ruling party argues that people in the middle class and upper class shouldn't be
left out of the government's new welfare policies.
Another bone of contention between the parties has to do with how to raise the needed funds
for a 20 trillion won budget supplement.
The Saenuri Party is lobbying for a government bond issuance, while DUP says a tax hike should
be considered first.
Kim Yeon-ji, Arirang News.