Tax Reform for Acceleration and Inclusion Act

Sen. Bam to gov’t: Protect Filipinos from killer combo of rising prices and unemployment

Senator Bam Aquino called the increase in prices of goods and the rising unemployment a killer combo that needs to be addressed immediately.

“Huwag natin i-knockout ang pamilyang Pilipino sa combo na pagtaas ng presyo ng bilihin at kawalan ng trabaho,” said Sen. Bam, one of only four senators who voted against the ratification of the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

A recent Pulse Asia survey indicated that 98 percent of respondents claimed the prices of basic goods they usually purchase have increased due to the tax reform law, and around 86 percent said they were strongly affected by the prices increases.

In addition, a latest survey by SWS showed that the number of unemployment Filipinos rose to 10.9 million, the highest since 2016.

“Hindi na biro ang epekto ng TRAIN sa mga Pilipino, kaya tayo tumutol dito. Ngayon na mas malala pa pala ang kinalabasan nito, dapat lang na pag-aralan at solusyunan ang matinding pagtaas ng presyo,” said Sen. Bam.

Sen. Bam said he will present stories of Filipinos affected by the TRAIN Act from the series of community dialogues that he conducted in different parts of the country when the Senate conducts a hearing on the tax reform program on May 9 (Wednesday).

“Mahalagang mailabas natin ang bigat na ibinibigay ng TRAIN upang ito’y marepaso at nang maibsan ang pasanin ng ating mga kababayan,” said Sen. Bam.

Sen. Bam also urged Congress not to move forward with TRAIN 2, as it may exacerbate the problem of unemployment by removing incentives for certain businesses.

 Sen. Bam has filed Proposed Senate (PS) Resolution No. 704, calling for a review of the TRAIN Act, claiming it greatly contributes to the increase in prices of goods and services that burdens Filipinos, mostly the poor.

Sen. Bam: Gov’t is duty-bound to review TRAIN, protect poor from price surge

As Filipinos deal with high prices of goods and services due to the additional excise tax on petroleum products and with the country’s inflation rate shooting up to 4.3 percent in March, a senator urged his colleagues to revisit Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

 In his Senate Resolution No. 704, Sen. Bam Aquino wants the appropriate Senate Committees to conduct an inquiry on the TRAIN’s inflationary impact and effect on the economy.

Sen. Bam underscored the need to take another look at the government’s tax reform program amid the rise in prices due to the imposition of additional excise tax on fuel.

 “It is our duty to ensure all reforms benefit our countrymen and do not make life more difficult for Filipino families,” said Sen. Bam, who voted to reject the TRAIN Law during its ratification.

“Kailangan suriin muli ang TRAIN. Maging bukas tayo sa pagsuspindi sa excise tax kapag nakitang nakasasama na ito sa kabuhayan ng mga Pilipino,” emphasized Sen. Bam, referring to the increase in tax on gasoline and diesel to P7 and P2.50, respectively.

Sen. Bam pointed out that Congress approved the inclusion of increased excise taxes in the TRAIN Law due to assurance by the Department of Finance that its impact on inflation would not be more than 0.7 percent.

However, the Philippine Statistics Authority (PSA) announced that the inflation rate for March rose to 4.3 percent, way above the government’s prediction of two to four percent.

“Huwag nating hayaang lumala pa ang kahirapan at pagkagutom ng mga Pilipino,” said Sen. Bam.

Earlier, 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.

Sen. Bam: Do not allow price increase until expanded cash transfer system works

Sen. Bam Aquino stressed that an effective mechanism for the transfer of money to 10 million poor Filipino households under a cash transfer program should be in place before any price increase under the Tax Reform for Acceleration and Inclusion Act (TRAIN).

 During the interpellation period of the tax reform measure, Sen. Bam underscored the importance of the cash transfer program to help poor Filipinos bear the brunt of the price increases that may result in the TRAIN implementation once it is passed into law.

The current 4.4 million households under the Pantawid Pamilya Pilipino Program or 4 Ps and an additional 5.6 million households are targeted for the cash assistance program of the government.

“The cash transfer is crucial for poor families to cope with the price increase. Without this, the tax reform will be an additional burden to Filipinos in need,” said Sen. Bam.

Under the Senate version, poor households will be given P300 a month for three years to help them deal with any increase in prices brought about by the tax measure. The government estimates that P2.5 billion annually will be used for the cash transfer program.

 “Ang mahihirap na Pilipino ang matatamaan ng pagtaas ng presyo dahil sa tax reform,” Sen. Bam asserted.

“We must not have an increase in prices without ensuring that we have an effective cash transfer system in place for poor families,” Sen. Bam said during his interpellation of the measure’s sponsor, Sen. Sonny Angara.

Sen. Bam suggested that implementing government agencies, led by the Department of Social Welfare and Development (DSWD), must certify that they have an efficient, effective and transparent system in place.

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