Senate Resolution No. 597

Sen. Bam to push for TRAIN suspension to ease price crisis

After months of calling for a review on the Tax Reform for Acceleration and Inclusion (TRAIN), Senator Bam Aquino expects tomorrow’s Senate probe on TRAIN and inflation to produce tangible results, even look into the suspension of excise taxes.

“Sa aking pag-iikot sa iba’t ibang bahagi ng bansa, umaalma na ang taumbayan sa taas ng presyo ng bilihin. Napakatindi ng epekto ng TRAIN sa presyo ng bilihin na nagpapahirap sa ating mga kababayan,” said Sen. Bam, one of the four senators who voted against the ratification of the TRAIN law.

“We owe it to the Filipino people, especially the poor, to ensure that TRAIN is not making lives more difficult. We must look for immediate solutions, like the suspension of excise taxes,” Sen. Bam added.

Sen. Bam was referring to the excise tax on petroleum products under the TRAIN Act, which imposes P7 and P2.50 additional levy on gasoline and diesel, respectively.

“Umaalma na ang taumbayan sa presyo ng bilihin. Baka panahon nang ipasuspinde ang excise tax para mabawasan ang pasanin ng mga Pilipino,” said Sen. Bam.

As early as January, Sen. Bam filed Senate Resolution No. 597, urging the appropriate Senate committee to scrutinize the implementation of the unconditional cash transfer to ensure that it is sufficient to cover the increase in prices of goods and other services.

More recently, Sen. Bam also filed Senate Resolution No. 704, urging the appropriate Senate Committees to conduct an inquiry on the TRAIN’s inflationary impact and effect on the economy, particularly the P7 and P2.50 excise tax increase on gasoline and diesel, respectively.

The Senate Committee on Economic Affairs, headed by Sen. Sherwin Gatchalian, will conduct the hearing on the effects of TRAIN on the prices of goods and services and in the inflation rate, which reached a five-year high in April at 4.5 percent.

Sen. Bam renews call to review TRAIN as families struggle with rising prices

After a series of consultations with urban poor communities, Sen. Bam Aquino once again stressed the need to review the government’s tax reform program, saying families are struggling with the considerable jump in prices of goods and services. 

 “Marami nang dumadaing at naaalarma sa mataas na presyo ng bilihin na dulot tax reform program ng pamahalaan,” said Sen. Bam, alluding to Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

“Karamihan sa mga nakausap namin, nagrereklamo na Dati piso-piso lang ang taas, ngayon ang laki na. Ang laki na ng nabawas sa nabibili nating grocery para sa ating pamilya,” said Sen. Bam.

While Sen. Bam acknowledged that the TRAIN has increased the take-home pay of ordinary workers, for some, the additional pay is not enough to cover the rise in prices of basic goods in the market.

Recently, Sen. Bam filed Senate Resolution No. 704, urging the appropriate Senate Committees to conduct an inquiry on the TRAIN’s inflationary impact and effect on the economy, particularly the P7 and P2.50 excise tax increase on gasoline and diesel, respectively.

 When Congress approved the inclusion of increased excise taxes in the TRAIN Law, the Department of Finance assured lawmakers that its impact on inflation would not be more than 0.7 percent.

However, latest data from the Philippine Statistics Authority (PSA) showed that the country’s inflation rate for March hit 4.3 percent, beyond the government’s projection of two to four percent.

“Ngayong lumampas na ang inflation sa pagtaya ng pamahalaan, marapat lang na muli nating pag-aralan ang pagpapataw ng excise tax sa produktong petrolyo,” said Sen. Bam.

In addition, Sen. Bam filed Senate Resolution No. 597, urging the appropriate Senate committee to scrutinize the implementation of the unconditional cash transfer to ensure that it is sufficient to cover the increase in prices of goods and other services.

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