It is only logical for the administration to support his Bawas Presyo Bill after pointing to rising fuel prices as the reason for Filipinos’ perception that life worsened, according to a senator.

 “Ngayong umamin na ng gobyerno, siguro naman ay susuportahan na nila ang isinusulong nating panukala para sa suspindihin at i-rollback ang buwis sa petrolyo,” said Sen. Bam Aquino, referring to his Senate Bill No. 1798 or the Bawas Presyo Bill.

 “Aksyon at solusyon ang kailangan ng taumbayan, hindi debate at palusot. Ipasa na natin ang Bawas Presyo Bill para tulungan ang mga Pilipinong nalulunod na sa taas-presyo,” added Sen. Bam.

Sen. Bam’s measure seeks to suspend the excise tax on fuel under the TRAIN Law when the average inflation rate surpasses the annual inflation target over a three-month period.

The senator made the pronouncement after Malacanang attributed the results of a latest survey showing more Filipinos believe their lives worsened during the second quarter of this year to rising fuel prices.

 In its June 2018 survey, the Social Weather Stations (SWS) said that 32 percent of adult Filipinos claimed their lives improved while 27 percent said their lives worsened for a net gainers score of +5. The result was 15 percent lower than the 20-percent net score in March 2018.

During Thursday’s Senate hearing on the effects of the TRAIN Law, Sen. Bam criticized the Department of Finance (DOF) for not taking into consideration the indirect effect of the tax reform program on inflation.

An official of the DOF admitted that its earlier claim during Senate deliberation that 0.4 percent effect of the TRAIN Law on inflation was based only on direct effect.

  “Ang hirap tanggapin na hindi nag-forecasting ang ating economic managers. Kabuhayan at kalagayan ng mga pamilyang Pilipino ang maaapektuhan sa pagtaas ng presyo ng langis dahil sa TRAIN Law,” said Sen. Bam, one of just four senators who voted against the ratification of the TRAIN Law.