Japan's Prime Minister Ishiba Reaches Agreement with DPP on Stimulus Package

According to Makoto Hamaguchi from the Democratic People's Party (DPP) of Japan, Prime Minister Shigeru Ishiba has reported that he has reached an agreement with his party on the economic stimulus package, promising that discussions regarding the opposition's tax reduction proposals will be included among the measures. Hamaguchi stated that the package will include discussions about annual tax reforms for the upcoming fiscal year, specifically the proposal by the DPP to raise the income exemption cap to 1.03 million yen ($6,650), as well as discussions on reducing gasoline taxes, another initiative proposed by the DPP. The three parties have also agreed to pass the additional budget required to finance the stimulus package by the end of December. With this agreement, Ishiba has received the green light to finalize the package in an effort to regain public support after the ruling Liberal Democratic Party and its coalition partner lost the majority in last month's national elections. Meanwhile, the DPP has gained a foothold to advance its policy proposals.