Senate eyes passage of tax reform bill, 2018 budget
With Congress set to go on a monthlong recess two weeks from now, the Senate is bent on moving for the immediate passage of the comprehensive tax measure as well as the proposed P3.7-trillion national budget for 2018 before the year closes.
Senate President Aquilino Pimentel III on Sunday said the chamber sought to pass on third reading the proposed Tax Reform for Acceleration and Inclusion Act before Congress went on recess on Oct. 13.
Congress resumes its session on Nov. 13.
In a text message to reporters, Pimentel said the plan was to pass the tax reform bill on second and third reading before Oct. 12.
This was to enable senators and congressmen to reconcile their own versions of the measure in a bicameral conference committee during the break, according to Pimentel.
At present, the Senate is holding floor deliberations on the measure presented by Sen. Sonny Angara.
For the proposed 2018 national budget, Sen. Loren Legarda, chair of the Senate finance committee, said she would sponsor the measure on Thursday, or exactly a week after the House would have turned over to the chamber the approved General Appropriations Bill.
Legarda said the Senate would hold a session on Thursday in order for the budget measure to be sponsored on the floor.
Normally, Congress holds sessions from Monday to Wednesday.
“On Thursday, we will sponsor and start the interpellation on the general principles and macroeconomics portion of the measure,” Legarda said in a radio interview.