Bam Aquino on excise tax suspension

Sen. Bam: Ayusin ang TRAIN Law, i-rollback ang tax sa petrolyo

Sen. Bam Aquino welcomed the House of Representatives’ move to tackle measures to shelve the excise tax on petroleum under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, hoping that the Senate could follow suit and work for its complete removal.
 
“Magandang balita na kumikilos na ang Kamara para maitama ang ilang probisyon sa TRAIN Law na dahilan ng pagtaas ng presyo ng bilihin,” said Sen. Bam.
 
“Kailangan talagang ayusin ang TRAIN Law mahihirap ang nasasagasaan nito,” he pointed out, adding that the 6 percent inflation rate for November remains above the government’s target of 2-4 percent.
 
Sen. Bam hopes that the Senate can start tackling his Bawas Presyo sa Petrolyo Bill and the minority’s Joint Resolution No. 15, which are both seeking to suspend the excise tax under the TRAIN Law and mandate the rollback of levy on fuel to December 31, 2017 rates.
 
“Hopefully, the Senate can follow suit and tackle these crucial measures before the end of the year,” said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.
 
Sen. Bam said the passage of these measures is crucial after Malacanang decided to implement the excise tax on fuel in 2019 after initially expressing desire to suspend it.
 
“Mas mahalagang madaliin ang pagsasabatas nito dahil hanggang ngayon, mahal pa rin ang presyo ng pagkain at iba pang bilihin na ikinalulunod na ng marami nating kababayan,” said Sen. Bam.
 
Earlier, Sen. Bam called on the government to reconsider its decision to push through with the collection of excise tax on fuel in 2019.

Sen. Bam: Excise tax suspension is a win for Filipinos, illustrates value of independent voice

The government’s plan to remove the excise tax on petroleum products in January 2019 is a win for Filipinos and an indication of the importance of having an independent voice in government, according to Sen. Bam Aquino. 

“Panalo ang pamilyang Pilipino sa pagsuspindi ng dagdag buwis sa gasolina, diesel at iba pang produktong petrolyo sa Enero,” said Sen. Bam, who has been pushing for the suspension of excise tax since May 2018. 

“Patunay din ito sa halaga ng pagkakaroon ng magkakaibang boses sa gobyerno – pati na ang minorya o oposisyon. Mahalagang pakinggan ang iba’t ibang panig na mayroong solusyon sa problema ng bayan,” added Sen. Bam, referring to his call for suspension and rollback of the TRAIN Law despite the hardline defense of the administration’s economic managers. 

Sen. Bam stressed that there’s more to be done as he reiterated his push to rollback the excise tax on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law to December 31, 2017 rates. 

“Magandang unang hakbang ito. Pero kailangan nang aksyunan ang Step 2 – tuluyan na nating alisin ang buong excise tax sa petrolyo na pinataw ng TRAIN Law. Ipasa na ang Bawas Presyo sa Petrolyo Bill at joint resolusyon ng Minority Bloc,” stressed Sen. Bam, one of four senators who voted against the ratification of the government’s tax reform program. 

On May 10, 2018, Sen. Bam filed Senate Bill No. 1798 or the Bawas Presyo sa Petrolyo Bill, seeking to suspend the collection of excise tax on fuel once inflation rate breaches the annual inflation target over a three-month period. 

Sen. Bam’s measure also seeks to rollback the excise tax on petroleum products to December 31, 2017 levels or before the TRAIN Law was implemented. 

In addition, Sen. Bam and other minority senators — Minority Floor Leader Franklin Drilon and Sens. Francis Pangilinan, Risa Hontiveros, Antonio Trillanes and Leila de Lima — submitted Senate Joint Resolution No. 15 seeking to suspend the excise tax under the TRAIN Law and mandate the rollback of levy on fuel to December 31, 2017 rates. 

In their resolution, the minority senators urged their fellow lawmakers to support their initiative to alleviate the plight of Filipinos, especially the poor. 

“Magtulungan na tayo’t magtrabaho para lutasin ang krisis sa presyo at bigyan ng ginhawa ang mga kababayan nating nalulunod sa gastos,” said Sen. Bam, who also delivered three privilege speeches on the negative effects of TRAIN Law and excise tax on fuel.

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