Close  

House urged to approve reso suspending excise taxes on oil products

/ 06:26 PM October 04, 2018

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.

ADVERTISEMENT

“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.

FEATURED STORIES

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.

Under 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.

While 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

RELATED STORIES

ADVERTISEMENT

Inflation hits new 9-year high of 6.4% in August

DOF official: TRAIN law not the cause of July inflation

Duterte told: TRAIN, not Trump, to blame for high inflation

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Edcel Lagman, Excise Tax, House of Representatives, Joint Resolution 27, Philippine news updates, Tax Reform for Acceleration and Inclusion, TRAIN law
For feedback, complaints, or inquiries, contact us.
newsinfo

Northern Samar village chief slain

April 26, 2019 12:52 PM

entertainment

50th New Orleans Jazz Fest opens after brief rain delay

April 26, 2019 12:51 PM

entertainment

Police-shooting drama brings young actress into spotlight

April 26, 2019 12:40 PM

newsinfo

Isabela village chairman nabbed for loose guns

April 26, 2019 12:33 PM




© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.