Instead of suspension, Sen. Bam Aquino is pushing for an immediate rollback on the excise tax on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law amid the people’s cry for an end to the rise in prices of goods and services.
“Humihingi na ng saklolo ang mga manggagawa at iba pang sektor. Umaksyon na tayo at i-roll back ang excise tax sa petrolyo,” stressed Sen. Bam, referring to labor groups crying out for higher wages.
“A suspension in 2019 is too late. Makinig na tayo sa daing ng mamamayan na nalulunod na sa pagtaas ng presyo,” added Sen. Bam, one of four senators who voted against the ratification of the government’s tax reform program.
Sen. Bam stressed that the government must admit the problems caused by the tax reform program and find solutions to lower prices of goods and services by rolling back the excise tax.
“Hangga’t hindi inaamin ng administrasyon na problema ang TRAIN. Hindi magkakaroon ng solusyon ang pagtaas ng presyo,” said Sen. Bam.
Sen. Bam has filed Senate Bill No. 1798, where he sought for the rollback of TRAIN’s excise tax on fuel when average inflation rate surpasses the annual inflation target over a three-month period.
Sen. Bam included this safeguard during the TRAIN deliberations, but the provision was removed from the final draft of the law during the bicameral conference.
“Hindi hihigit sa 70 billion pesos ang mawawala sa koleksiyon ng buwis kung i-roll back natin ang excise tax ngayon. Ipagkaloob na sana ng gobyerno iyon para ginhawaan ang mga Pilipino,” said Sen. Bam.
Sen. Bam stated in his recent privilege speech in the Senate that the targeted 2018 collections from the excise tax on fuel is 70 billion pesos, while government underspending for 2017 is at 390 billion pesos.
“I-roll back natin ang excise tax ngayon para pababain ang presyo ng bilihin at matulungan ang lahat ng sektor sa isang bagsakan,” added Sen. Bam.
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