Conflicts between the ruling and opposition parties continue regarding the inheritance tax law, which addresses the spousal and collective deduction limits. While both parties have agreed on the need to raise these limits, discussions have stalled over proposed amendments such as the abolition of the 'spousal inheritance tax.'

On the 14th, the People Power Party demanded the convening of a tax subcommittee to deliberate on a revision bill for the inheritance tax, stating that the spousal deduction system constitutes 'double taxation.' In contrast, the Democratic Party believes the ruling party lacks sincerity as it has not even proposed relevant legislation and continues to suggest new systems daily.

National Assembly Budget Committee Chairman Song Eon-seok (center) and the lawmakers from both ruling and opposition parties, Park Soo-young of the People Power Party (right), and Jeong Tae-ho of the Democratic Party of Korea. /Courtesy of News1

Song Eon-seok, a member of the People Power Party and chairperson of the National Assembly's Planning and Finance Committee, stated in a position paper on that day, 'The work to amend the inheritance tax law is only filled with political rhetoric and a flurry of words, and is being neglected without any actions,' and urged the swift convening of the tax subcommittee.

He pointed out, 'Since the regular National Assembly last raised the issue of expanding the (collective and spousal) deduction limits, a reform of the inheritance tax must be carried out immediately,' and added, 'Using the government's announcement of the conversion to property acquisition tax as an excuse to oppose the current discussions on amending the inheritance tax law is like trying to cover the sky with a palm.'

In response, Jeong Tae-ho, the opposition party's caucus member from the Democratic Party, remarked, 'The People Power Party is demanding the convening of the tax subcommittee, but the chairperson of the finance committee and the chairperson of the tax subcommittee are People Power Party members Song Eon-seok and Park Soo-young. If they are sincere, can't they convene it at any time?'

He explained, 'Once a bill is introduced, discussions can happen at any time, but the day before, when we checked the situation regarding the introduction of the bill with the ruling party's caucus, there were no bills even introduced regarding the abolition of the spousal inheritance tax that the People Power Party claims or the property acquisition tax.'

People Power Party Emergency Countermeasures Committee Chairman Kwon Young-se is holding a press conference related to current issues at the National Assembly in Yeouido, Seoul, on the morning of the 13th, expressing his stance on the National Assembly's dismissal of the impeachment motions against Auditor General Choi Jae-hae and three prosecutors, including Lee Chang-soo, the chief of the Seoul Central District Prosecutors' Office. /Courtesy of News1

Afterward, the ruling party agreed to introduce a bill that would abolish the spousal deduction limit, leading to greater divergence in opinions between the ruling and opposition parties. The ruling party decided that the chairperson of the People Power Party's emergency committee, Kwon Young-se, would directly represent the proposal to change the content from 'raising' the spousal deduction limit to 'abolishing' it.

Chairperson Kwon stated, 'Since spouses belong to the same household, if inheritance tax is imposed when one spouse dies, and again when the surviving spouse dies, double taxation on the same household is unavoidable.'

In response, Jeong remarked, 'I doubt the sincerity of the People Power Party, which proposes new systems every day without any principles or direction.'

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