House urged to approve reso suspending excise taxes on oil products
Albay 1st District Representative Edcel Lagman has urged the House of Representatives to expedite the approval of a resolution which would suspend the imposition of excise taxes on oil products, to address high inflation rates.
In a statement on Thursday, Lagman said that Joint Resolution No. 27 would help tame the rising prices of goods.
“It is patently a flawed policy for the Philippines, an oil-importing country, to impose additional and higher excise taxes on petroleum products, while oil producing countries are even giving subsidies to maintain at low levels the pump prices of gasoline to protect consumers,” he said.
This resolution was filed by him, along with other House members from the Magnificent 7, Makabayan bloc, and People’s minority on September 10.
If adopted, the resolution would task the government to exhaust measures which would control inflation-related problems, such as a disjointed agricultural policy, lack of adequate support to Philippine agriculture, and a weak peso that makes imported materials more expensive, especially for infrastructure projects.
They also called for the proper implementation of the Responsible Parenthood and Reproductive Health Act, which would moderate population growth that would relieve the government of the demand for goods and services.
Article continues after this advertisementUnder the current administration-backed tax reform package, or the Tax Reform for Acceleration and Inclusion (TRAIN) law, excise taxes for gasoline fuel went up from P4.35 to P7.00, and P2.50 for diesel and auto LPG.
Article continues after this advertisementWhile cabinet officials have disassociated expensive goods and the TRAIN law, several economists believe that the 6.4 percent inflation rate recorded in August — a nine-year high — is partly to blame.
According to Lagman, statements and well-wishes from the country’s economic managers are not enough to ease the suffering of poor Filipinos, especially that sponsors of the General Appropriations Bill admitted that TRAIN law has contributed to high prices.
“Assurances from the economic managers that the huge inflation rate is manageable and will be soon contained cannot lift the burden of spiraling prices of goods and services on the public, particularly the marginalized and disadvantaged sectors,” he added. /je
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