Japan weighs one-time $260 tax cut to ease inflation's pain

TOKYO -- The Japanese government and the ruling Liberal Democratic Party are considering a one-time tax reduction of 40,000 yen ($267) per person as part of an economic stimulus package to be compiled around early November.

Taxpayers and their dependents would each qualify for the cut under this proposal, meaning that a household of three's income and other taxes would go down by a total of 120,000 yen.