Sen. Bam Aquino lauded the government for listening to the people’s plea and suspending the excise tax on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, saying this could lead to its eventual removal.
“Nagpapasalamat tayo sa Presidente at sa kanyang economic managers sa pag-aksyon sa isyu na matagal nang daing ng mga pamilyang nahihirapan sa taas ng presyo ng bilihin,” said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.
“Ito’y tagumpay ng mga Pilipinong matagal nang humihiling ng tulong sa matinding pagtaas ng presyo,” added Sen. Bam, who has been calling for the suspension and roll-back of TRAIN Law’s tax on fuel since May this year.
Sen. Bam made the reaction after Budget Sec. Ben Diokno announced that the government will suspend the excise tax on fuel under the TRAIN Law in 2019.
Sen. Bam hopes that the government’s move is an indication of its willingness to eventually remove the all of the excise tax on fuel under its tax reform program, which could lead to lower prices of food and other goods.
“Mahalaga po itong suspension ng dagdag-buwis sa Enero, pero mahalaga rin tanggalin ang buwis na nakapataw na sa ngayon. Kailangan pa ring tugunan ang problema ng mga kababayan nating nalulunod sa mahal na presyo ng bilihin,” said Sen. Bam.
Despite this development, Sen. Bam is determined to push for the passage of his Senate Bill No. 1798 or the Bawas Presyo sa Petrolyo Bill, which he filed last May.
The measure attempts to change and fix the TRAIN Law by ensuring the suspension and rollback of fuel tax once the country’s inflation rate is too high.