Sen. Bam urges Congress to work together on Bawas Presyo Bill as inflation remains high

With inflation unchanged and still beyond the projected target range, Sen. Bam Aquino stressed that government must work together to help Filipinos still suffering from high prices of food and other goods.

“Mataas pa rin ang presyo at umaaray pa din and mga pamilyang Pilipino. Bigyan natin sila ng kahit kaunting ginhawa ngayong Pasko,” said Sen. Bam, one of four senators who voted against the ratification of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

“Magtulungan na tayo upang suspindihin at i-rollback ang buwis sa petrolyo. Ipasa na natin sa Kongreso ang Bawas Presyo Bill at ayusin ang TRAIN Law,” added Sen. Bam who filed Senate Bill No. 1798 or the Bawas Presyo sa Petrolyo Bill last May.

Sen. Bam renewed his call to the government to support his measure, which he believes could help lower prices of petroleum products and the prices of goods in the market.

“Pinagtulungan na natin noon ang batas na libreng kolehiyo. Ngayon, itong Bawas Presyo Bill naman sana ang Christmas gift natin sa ating mga kababayan,” urged Sen. Bam.

Sen. Bam’s Senate Bill 1798 is the only measure in the Senate that seeks to amend the TRAIN Law. If passed, it will add a safeguard to ensure the suspension in the collection of excise tax on fuel once inflation rate surpasses the government’s inflation target for three consecutive months.

The senator said that reducing the cost of petroleum products would not only affect fare prices but would also have an indirect effect on the prices of food and other goods in the market.

Also, Sen. Bam added that removing the excise tax on petroleum would translate to additional P87 per day income for public utility drivers (PUV), which they can use to purchase two kilos of rice for their family.

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