Bam Aquino pushes anew for suspension of excise tax on fuel

With the recent wage increase in the National Capital Region (NCR), Senator Bam Aquino urged Congress to prioritize the passage of a bill which seeks to suspend the excise tax on fuel.

READ: DOLE raises NCR minimum wage to P537 with P25 hike

Aquino said the P25 salary increase should be implemented with efforts to lower prices of goods, which includes the suspension of the excise tax on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

“Parehong dagdag kita at bawas presyo ang kailangan ng ating mga kababayan. Bigyan natin ng sapat na ginhawa ang mga Pilipinong nalulunod sa pagtaas ng presyo ng pagkain, bigas at iba pang bilihin,” the senator said in statement on Monday.

(Our people need additional income as well as reduced prices of goods. Let us give comfort to Filipinos who are bearing the brunt of the increase in prices of food, rice, and other commodities.)

“Gawing prayoridad na sana ng Kongreso ang pagpasa sa Bawas Presyo Bill para maayos naman kahit kaunti ang TRAIN Law at mabawasan ang pasan ng Pilipino,” he added.

(I hope Congress will prioritize passing the bill that seeks to reduce prices of goods and add safeguards to the TRAIN law to lighten the burden on people.)

Aquino explained that Senate Bill 1798 or the Bawas Presyo sa Petrolyo Bill, which he filed in May 2018, seeks to add safeguards to the TRAIN Law.

The measure, according to the senator, allows the suspension of the excise tax on fuel should the inflation rate surpass the country’s predicted target for three consecutive months.

“Kung ipasa ang Bawas Presyo Bill at tanggalin ang excise tax sa petrolyo sa TRAIN Law, hanggang P87 kada araw ang dagdag sa kita ng ating mga jeepney driver,” he said.

(If the Bawas Presyo Bill is passed and the excise tax on fuel under the TRAIN Law will be scrapped, our jeepney drivers will get to earn P87 more per day.)

Aquino added this would be enough for PUV (public utility vehicle) drivers to buy two kilos of rice per day for their families.

The senator added that reducing the cost of petroleum products would not only affect fare prices but would also have an indirect effect on the prices of food and other goods in the market.

“Magandang regalo ngayong Pasko ang tulong sa pagbababa ng presyo ng bilihin. Kaya itutuloy ko sa Senado ang paninindigan para sa Bawas Presyo Bill upang ayusin ang TRAIN Law,” he said.

(Reducing the prices of goods would be a nice gift to our countrymen this Christmas season. I will continue pushing for the Bawas Presyo Bill and enhancing the TRAIN Law at the Senate.)  /ee