The Democratic Party of Korea has decided not to designate the proposed revision to the inheritance tax law as a fast-track agenda item. This decision comes as the People Power Party sets its policy to prioritize the amendment of the inheritance tax law focusing on the abolition of the spousal inheritance tax, excluding the reduction of the highest tax rate.
DPK’s spokesperson, Yoon Jong-kun, stated at a press briefing on the 11th, after a party meeting, that there is a possibility of bipartisan consensus on the inheritance tax law, leading to the decision not to fast-track it. However, the party plans to designate three other bills—the Special Semiconductor Act, the Banking Act, and the Franchise Business Act—for fast-tracking and intends to push them in an upcoming plenary session.
Previously, the Democratic Party had planned to designate the revisions to the inheritance tax law, along with the other three bills, as fast-track items at a session scheduled for the 13th. The discussion regarding the inheritance tax law gained momentum after Lee Jae-myung, the party’s leader, expressed receptiveness to the People Power Party’s proposal to abolish spousal inheritance tax on the 7th.
Moreover, Yoon mentioned that on the 12th, the Legislation and Judiciary Committee plans to conduct an emergency inquiry into Prosecutor General Shim Woo-jung’s decision to waive immediate appeal. If there is noncompliance with appearance, they are considering passing a resolution for witness attendance on the 19th. This comes amidst allegations from the Democratic Party and other opposition members claiming that the prosecution, under President Yoon Suk-yeol’s administration, intentionally delayed legal proceedings to extend detention periods, subsequently waiving immediate appeals to court rulings canceling detentions.