Youth account bill grants children NT$1.14 million

By Jonathan Chin / Staff writer, with CNA Add TT as Preferred Source The opposition-controlled legislature yesterday passed legislation to establish state-sponsored savings accounts aimed at boosting the nation’s birthrate by supporting childrearing and granting eligible citizens at least NT$1.14 million (US$35,231) upon turning 18.The bill proposed by the Chinese Nationalist Party (KMT) and the Taiwan People’s Party (TPP) passed a third reading after a long deadlock in a vote down party lines.The law, called the Taiwan Youth Development and Future Account Act (台灣兒少成長及未來帳戶條例), is now headed for the president’s desk. Chinese Nationalist Party (KMT) and Taiwan People’s Party legislators hold signs to celebrate the passage of a bill to establish child growth and future accounts at the Legisla