Diokno confident Congress will pass TRAIN 2
Budget Secretary Benjamin Diokno on Wednesday expressed optimism that the Congress will pass the second package of the Tax Reform for Acceleration and Inclusion law (TRAIN 2) despite the reluctance of Senate.
“They are part of the administration, right? And it is their responsibility to respond to the demands of the President,” he said in a media forum.
“The President is very clear. He wants all the tax reform packages passed before the end of the year,” he added.
In his third State of the Nation Address (Sona), President Rodrigo Duterte asked Congress to pass the second package of the Train law before the year ends.
Duterte rejected calls to suspend the tax reform law, saying it is needed for economic growth.
“This matter is urgent. Do not be part of the problem by ignoring it. I hope to sign Package 2 before the year ends, I urge Congress to pass it in a form that satisfies our goals and serves the interests of the many, not just the wealthy few,” Duterte said.
But many senators have expressed their reservations in passing the measure citing the negative effects of the first package of the Train law to the purchasing power of the peso.
Critics have blamed the Train law for the skyrocketing prices of goods and services amid rising inflation.
Many senators have called for the suspension of some provision of the Train law on fuel excise tax, which affects the prices of basic goods.
Diokno said the differences between the two chambers of Congress and the Executive Department will be threshed out once the Legislative-Executive Development Advisory Council (LEDAC) is convened.
“We plan to convene the LEDAC as soon as possible. We will thresh this out. Sila naman ang nag determine noon eh,” he said.
“The LEDAC is the forum threshing out the differences between the House and the Senate and the Executive so we will convene the LEDAC as soon as possible,” he added. /muf
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