Sen. Bam Aquino urged the government to address the rising prices of goods, especially that of petroleum products, by supporting the passage of his measure dubbed as “Bawas Presyo Bill.”
“Huwag na patagalin pa ang paghihirap ng ating mga kababayan. May magagawa tayo para maibsan ang pagtaas ng presyo,” said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.
“Simplehan lang po natin. Taas presyo ang problema, bawas presyo ang solusyon. Kailangang ipasa na ang Bawas Presyo Bill sa lalong madaling panahon,” added Sen. Bam, referring to his Senate Bill No. 1798.
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.
According to Sen. Bam, the government cannot escape the fact that its tax reform program, particularly the excise tax on fuel under the TRAIN Law, has led to the increase in prices of goods and services and the rise in inflation rate.
He added that under the TRAIN Law, another increase in the excise tax on fuel is scheduled for January 2019.
“Huwag naman natin hayaan na itaas pa ng gobyerno ang presyo ng petrolyo habang nalulunod ang mga pamilya sa gastos,” urged Sen. Bam.
Sen. Bam also urged Congress to prioritize the suspension and rollback of excise tax under the TRAIN Law, instead of focusing on the passage of TRAIN 2.