Bam Aquino

Sen. Bam: Shield the poor from admin’s tax increases

How about the country’s poor?

 Senator Bam Aquino raised this question as he opposed moves to remove the earmarking provision of the Tax Reform for Acceleration and Inclusion (TRAIN), which is aimed at helping country’s poor cope with the expected increase in prices of goods and services brought about by the government’s proposed tax measure.

 “This tax measure will hit the poorest of our countrymen the hardest. It’s necessary on our part to have the earmarking and an effective cash transfer program para sa ating mahihirap na kababayan,” said Sen. Bam during the period of amendments for TRAIN.

 Earmarking allots parts of revenues generated from the tax measure to several priority programs, including financial assistance to the country’s poor through an unconditional cash transfer program to help them cope with the expected price increase once the measure is enacted into law.

 Based on computation, the country’s poor will be given a P300 monthly financial assistance for a certain period of time to help cover the increase in prices of basic goods due to additional tax on sugar beverages and petroleum. 

“Kailangan matiyak na mayroong makukuhang tulong kada buwan mula sa pamahalaan ang mga mahihirap na pamilya upang mabalanse ang pagtaas ng presyo ng bilihin. Kung hindi natin gagawin iyan, we will be passing a measure which will hit our poorest countrymen the worst,” Sen. Bam stressed, adding that the Department of Finance itself presented the cash transfer program as the best solution to help the country’s poor cope with the increase in prices.

 During the period of amendments, Sen. Bam committed to present proposals on how to ensure that the welfare of the country’s poor will be protected under this tax reform program.

 “Kailangan nating isipin ang kapakanan ng mga kababayan nating mahihirap na siyang tatamaan nang husto sa pagtaas ng presyo ng bilihin,” said Sen. Bam.

Sen. Bam: Increase in taxes will hit poor Filipinos

Sen. Bam Aquino said the proposed tax reform measure would lead to higher prices of basic goods and other services if the government insists on passing it.

“Alam naman natin na ang pagtaas ng bilihin ay napakasakit sa bulsa ng maraming Pilipino,” Sen. Bam said in a radio interview.

But without the necessary number to block its passage, Sen. Bam said the minority could only work on easing the measure’s burden on the public.

“Kaya sinisikap naming siyasatin ang lahat ng probisyon. Ang binabantayan namin sa minority ay masiguro ang mga benepisyo sa tao, tulad ng pagkakaroon ng bagong bracketing sa personal income tax,” added Sen. Bam, vice chairman of the Committee on Ways and Means.

“Para naman sa mahihirap nating kababayan, hindi dapat ipataw ang mga bagong tax na magpapataas ng presyo ng bilihin, tulad ng excise tax on fuel, hangga’t hindi nasisigurado ng gobyerno na magiging maayos ang unconditional cash transfer program,” Sen. Bam stressed.

“Kailangan matiyak na mayroong makukuhang tulong kada buwan mula sa pamahalaan ang mga mahihirap na pamilya upang mabalanse ang pagtaas ng presyo ng bilihin,” Sen. Bam said.

Sen. Bam assured that minority senators are working to ensure that the public will be able to bear the brunt of the proposed tax reform measure, especially with the expected rise in prices of basic commodities and other services.

“Sana mas maging aktibo ang taumbayan, na kung ayaw nating tumaas ang bilihin, dapat magsalita tayo. Dumulog tayo sa ating mga congressman at senador kasi masakit sa pamilyang Pilipino kapag nagkaroon ng pagtaas sa presyo ng bilihin,” added Sen. Bam.

In the 17th Congress, Sen. Bam has filed Senate Bill No. 697 that seeks to revise the current income tax bracket set by the National Internal Revenue Code, which was passed in 1997.

The measure seeks to amend Section 24 of the National Internal Revenue Code of 1997, as amended, by adjusting the levels of net taxable income and simplifying the nominal tax rates for the purposes of computing the individual income tax. 

If enacted into law, Sen. Bam said the measure effectively lowers the taxes on the 22-million Filipino working class.

Sen. Bam: Free tuition in public universities and colleges starts this semester

Students of state universities and colleges (SUCs) all over the country will enjoy the benefits of Republic Act 10931 or Universal Access to Quality Tertiary Education Act earlier than expected.

In a radio interview, Sen. Bam Aquino announced that the 112 SUCs will not collect tuition fees and miscellaneous expenses from students starting this semester. Initially, the government said the law will be implemented starting the school year 2018-19.

Sen. Bam said he was informed by the Commission on Higher Education (CHED) that no tuition fees and miscellaneous expenses will be collected from students this semester.

“Kahapon, kinumpirma ko na implemented na po ito this second semester. So lahat ng mag-e-enrol this second semester, dapat wala nang kinokolektang tuition at miscellaneous expenses,” said Sen. Bam, principal sponsor and co-author of RA 10931.

“Iyong mga staff natin at mga partners sa iba’t ibang lugar, tinitingnan na ang mga SUCs kung wala silang kokolektahing tuition at miscellaneous expenses,” added Sen. Bam.

Sen. Bam also announced that lawmakers have allotted P40 billion in the 2018 national budget for the implementation of RA 10931 for school year 2018-19.

Meanwhile, Sen. Bam encouraged students who failed to finish their college course to inquire with SUCs if they can go back to school and finish their studies for free.

“Natutuwa kami dahil ang batas na ito ay hindi lang para sa kasalukuyang naka-enroll pero sa mga nag-drop-out dahil puwede nilang ipagpatuloy ang kanilang pag-aaral nang libre,” Sen. Bam pointed out.

The law provides free education to students in SUCs, local universities and colleges (LUCs) and TESDA-run vocational schools. Aside from tuition fees, the government will shoulder miscellaneous and all other mandatory fees.

Scholarship grants will be made available to students of both public and private college and universities. It also provides a new and improved student loan program, where students can apply for financing for other education expenses.

In addition, students taking post-graduate studies can avail of the new and improved student loan program and scholarships under the law.

The measure was languishing in the legislative mill for years before it was passed during Sen. Bam’s time as chairman of the Committee on Education in the 17th Congress. This was Sen. Bam’s 19th law in his four years as senator.

Sen. Bam grateful for Church’s leadership in fighting culture of violence

Sen. Bam Aquino welcomed the Catholic Church’s initiative to spearhead the call for a stop to killings, saying it’s the first and most important step in achieving much-needed healing to the country.

 “Natutuwa kami na nananawagan na ang Simbahan sa buong taumbayan na makiisa sa pagtigil ng mga patayang nangyayari,” said Sen. Bam after the “Lord Heal Our Land Sunday” Holy Mass at the EDSA Shrine.

“Bilang mga Kristiyano, at bilang Pilipino, sumasang-ayon kami sa panawagan ng Simbahan na itigil na ang patayan at simulan na ang paghilom ng ating bayan,” added Sen. Bam.

Sen. Bam was one of the opposition figures who answered the Church’s call for the country’s healing. He also joined the procession to the People Power Monument (PPM) where a prayer for the country’s healing was also conducted.

 In his homily, Catholic Bishops Conference of the Philippines (CBCP) president, Archbishop Socrates Villegas, stressed the need to end extrajudicial killings and fight the festering culture of violence in the country.

 “Stopping the killings is only one big step. The journey of healing for the values of our nation turned upside down will be a long journey still,” Archbishop Villegas said.

 “​Hindi ito ang Pilipinas, at hindi ganito ang Pilipino. Ang inaawit natin ay ​’​ang mamatay nang dahil sa ‘yo’,​ hindi ​’​ang pumatay ng dahil sa ‘yo'”​, he added.

 Thousands of people from different walks of life attended the Holy Mass and joined the procession to the PPM with the image of the Our Lady of Fatima.

 The “Lord Heal Our Land Sunday” ushers in the start of a 33-day period of church activities for the continued healing of the nation, where the CBCP urged Filipinos to pray the Prayer of Saint John Paul II and the Holy Rosary for the country and for the souls of all those killed.

 The 33-day period will end on December 8, in time for the feast of the Immaculate Conception, the patroness of the Philippines.

Sen. Bam: Public schools to teach financial literacy soon

Sen. Bam Aquino expects that money management and business training will be taught in public schools starting next school year to equip students with the needed knowledge in managing their finances and encourage them to become entrepreneurs in the future.

 During this speech at the 6th UNESCO-APEID meeting on entrepreneurship education atMiriam College recently, Sen. Bam informed participants that the Youth Entrepreneurship Act has already been enacted into law as Republic Act 10679 in 2015. 

 The law encourages young would-be entrepreneurs to establish their own business by providing them access to capital and other support. It also creates financial literacy modules in all levels of Philippine education, to inculcate a culture of enterprise development among the Filipino youth.

 Sen. Bam said the Department of Education (DepEd) is currently finalizing the implementing rules and regulations (IRR) for RA 10679.

 “We hope that by next school year, financial literacy and entrepreneurship will be taught in our public schools,” said Sen. Bam, the principal sponsor and co-author of RA 10679 in the Senate as chairman of the Committee on Trade, Commerce and Entrepreneurship in the 16th Congress.

Sen. Bam underscored the need to inculcate financial literacy to the hearts and minds of young Filipinos, saying the country ranked 68th in the world in terms of financial literacy in 2015, way behind our neighbors Malaysia, Thailand, Hong Kong and Singapore.

Furthermore, Sen. Bam said a 2015 survey by Standard & Poor’s revealed that only 25 percent of Filipino adults are knowledgeable on basic money management.

Sen. Bam hopes that the country will learn from the experience of different participants of the conference to enhance financial literacy and entrepreneurship education in the country.

Around 140 participants from the Asia-Pacific region, composed mainly of policy makers, educators, entrepreneurs and youth representatives, joined the 6th UNESCO-APEID meeting.

Sen. Bam: Prepare for AI takeover of PH jobs

Instead of focusing on the threats of artificial intelligence (AI), Sen. Bam Aquino said the business community can harness AI to create more jobs, increase competitiveness, and improve products and services.

“While AI may very well be our competition in the marketplace of jobs, they might also be unintended rivals that push us to evolve, become more efficient, to learn and to relearn,” Sen. Bam stressed in his speech during the International Quality Conference, which was held at Okada Manila in Paranaque.

 ”And I hope this pushes us, not to shut our doors, but rather to kickstart our competitive spirit and develop our workforce for the future,” added Sen. Bam.

Sen. Bam also commended the Asia Pacific Quality Organization, the Global Benchmarking Network (GBN) and other participants of the event for tackling how to harness the latest technology for the development of various industries.

As chairman of the Committee on Science and Technology, Sen. Bam spearheaded an inquiry on the effects of AI in the country’s present workforce, especially in the business process outsourcing (BPO) industry.

During the hearing, it was discovered that AI will affect around 40,000 jobs in the contact center industry next year. However, it was projected that around 250,000 to 300,000 fresh employment opportunities will be created for those with data analysts and data programming skills. Sen. Bam these jobs can be opened up to Filipinos who are willing to learn and relearn.

 “The key is to be prepared. We must prepare our workforce through adequate, accessible, affordable training, re-training and education,” said Sen. Bam, adding that the cooperation of between the private sector, academe and government agencies is critical to the evolution and development of the Filipino workforce.

Sen. Bam calls on rural banks to expand support to small businesses

Senator Bam Aquino urged rural banks to expand their services to more small businesses, saying many local entrepreneurs still need access to reasonable loan packages that can help them grow their business.
 
Sen. Bam issued this plea during his speech at 60th Charter Symposium of the Rural Bankers Association of the Philippines (RBAP) recently. 
 
“Nagpapasalamat ako sa RBAP sa inyong pagsisikap na maabot ang ating mga kababayang nangangailangan ng serbisyong pinansiyal. Marami pa po ang nangangailangan ng ating tulong,” said Sen. Bam.
 
During his time as a social entrepreneur, Sen. Bam learned that lack of financing poses a big challenge for micro, small and medium enterprises as it hampers their development.
 
“So when I became a senator, we focused on policies that can help support our MSMEs in the Philippines,” Sen. Bam pointed out.
 
One of them is finding ways to link MSMEs to financial institutions, including rural banks, to help their search for fresh capital to start or expand their businesses.
 
In his four years as senator, Sen. Bam worked for the passage of Republic Act 10644 or the Go Negosyo Act, the first of his 19 laws as legislator.
 
The law mandates the establishment of Negosyo Centers in every town, city, municipality, and province of the country to serve as support hubs for entrepreneurs.
 
As of now, there are over 600 Negosyo Centers across the country that link MSMEs to suppliers and markets, providing training and support and connect them to sources of capital and financing.
 
As its principal sponsor and co-author, Sen. Bam also pushed for the enactment of Republic Act 10679 or the Youth Entrepreneurship Act , which mandates the inclusion of financial literacy and entrepreneurial training will be included in basic education.
 
“This will help groom young Filipinos to be responsible with their money and savings,” said Sen. Bam.
 
Sen. Bam also passed other laws in support of MSMEs, such as the Philippine Competition Act, Foreign Ships Co-Loading, Microfinance NGOs Act and the Credit Surety Fund Cooperative Act.
 
In the 17th Congress, Sen. Bam has filed the Philippine Islamic Financing Act, National Payment Systems Act and the Secured Transactions Act, measures that will help enhance the credit-worthiness and bankability of Filipinos, particularly small business owners.
 

Sen. Bam: Unite, work together for Marawi rehab

Now that Marawi City has been liberated from the grasp of the Maute Group, Sen. Bam Aquino urged all stakeholders to work together to heal, rebuild and create prosperity in the city.

“Now, we must illuminate the hopeful Filipino spirit. It’s time to work together to heal, rebuild and create prosperity in Marawi City,” said Sen. Bam, a member of the Special Committee on Marawi City Rehabilitation.

Sen. Bam’s pronouncement came after Defense Secretary Delfin Lorenzana declared an end to the five-month fighting in Marawi City.

 Earlier, President Duterte declared the liberation of Marawi City from the terrorist group following the death of terrorists Isnilon Hapilon and Omar Maute, who were behind the siege that devastated the city.

 “This marks the end of a dark period in Philippine history, when terrorists sowed fear, violence and devastation in the City of Marawi. Our Armed Forces deserve our utmost praise and gratitude for this victory and for sacrificing their lives to bring peace to our country,” said Sen. Bam.

At the same time, Sen. Bam commended members of other local government units, government agencies, civil society organizations, and the private sector who took in evacuees and provided support to families who lost their homes and livelihood.

With the liberation of Marawi City, Sen. Bam said it’s high-time to focus on rebuilding and developing Marawi City.

 “We fully support efforts to rehabilitate Marawi City and to bring normalcy and prosperity into the lives of Maranao families,” said Sen. Bam.

Sen Bam: Destabilization, disorder do not benefit the country

A senator called on members of government to work together for political stability in the country, despite differences in opinion and political color, as political uncertainty will not benefit the country.

 “While we disagree with some policies of the administration, ayaw naming magkagulo ang Pilipinas. Destabilization and political uncertainty are not good for anyone,” Sen. Bam Aquino pointed out.

Sen. Bam urged President Duterte not to equate dissent to destabilization, saying that speaking from the heart about political issues and even expressing outrage does not signify an intent to destabilize.

At the same time, Sen. Bam called upon the government to respect the various voices and opinions on contentious policies like the war on drugs.

“Hayaan nating maglabas ng saloobin ang taumbayan sa mga nakikita nilang tama o mali sa pamahalaan. Ito’y bahagi ng demokrasya na ating tinatamasa ngayon at hindi dapat ituring ng pamahalaan bilang destabilisasyon,” said Sen. Bam.

 Sen. Bam also warned that the establishment of a revolutionary government may only lead to increased political instability, a fragile democracy, and a weaker economy.

“Destabilization and threats of a revolutionary government will only weaken our democracy, our economy, and our fight against poverty,” Sen. Bam stressed.

“We hope the President Duterte can promote political stability by avoiding threats of establishing a revolutionary government, especially when the Armed Forces already stated that there are no destabilization plots,” added the lawmaker.

Sen. Bam also urged members of government to rise above the politics and work together on reforms that can help to uplift the lives of Filipinos, such as education, health care and economic growth.

Sen. Bam Aquino on Marawi City and the Death of Isnilon Hapilon and Omar Maute

Binabati natin ang matatapang na miyembro ng Armed Forces sa kanilang pagtuldok sa paghahasik ng lagim at terorismo nina Isnilon Hapilon at Omar Maute.

The country is now a safer place for all Filipinos.

With this victory, we hope that the firefighting will soon end so the government can immediately lift Martial Law and finally focus on rebuilding and developing Marawi City.

As member of the Special Committee on Marawi City Rehabilitation, we fully support efforts to rehabilitate Marawi City and to bring normalcy and prosperity into the lives of Maranao families.

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