Sen. Bam Aquino is worried the government is starting the year on the wrong foot by adding taxes to petroleum products based on the Tax Reform for Acceleration and Inclusion (TRAIN) Law, saying it may worsen the burden of high prices on the Filipino people.
“Ang pinakamainam na New Year’s resolution para sa bayan ay bawasan ang pahirap sa mamamayan,”said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.
“Nalulunod pa nga sa mataas na presyo ng bilihin ang ating mga kababayan, may dagdag buwis pa ulit. Tulungan sana natin ang mga mahihirap nating kababayan,” added Sen. Bam, who earlier called for the 100% implementation of the law for free college.
Sen. Bam said he hoped the government would defer the implementation of the second tranche of excise tax on fuel until inflation normalizes or until prices of food and other goods go down.
Under the second tranche, an additional two pesos excise tax will be imposed on gasoline and diesel and one peso on kerosene and LPG in 2019.
Sen. Bam has been pushing for the rollback of the tax on fuel through the Bawas Presyo sa Petrolyo Bill that he filed in May 2018.
The measure aims to fix the TRAIN Law by ensuring the suspension and rollback of excise tax on fuel once the country’s inflation rate exceeds the government’s target for three straight months.