Lawmakers Approve Spending Measure Covering F-16 Purchase

The Taiwanese Parliament has approved a special measure to fund the purchase of new fighter jets from the U.S., reports Taiwan News.

On Tuesday, members of the legislative Yuan passed a bill authorizing a special, seven-year budget for the acquisition of 66 F-16V fighter jets at a maximum cost of US$8 billion. 

In the case of overruns, additional funds must come from the general budget or by raising public debt.

Public debt for the project may not exceed 15 percent of annual...