Bam Aquino lauds temporary suspension of TRAIN law on fuel products

Senator Bam Aquino on Wednesday lauded the temporary suspension of the Tax Reform for Acceleration and Inclusion (TRAIN) Law on petroleum products.

“Ito’y tagumpay ng mga Pilipinong matagal nang humihiling ng tulong sa matinding pagtaas ng presyo,” Aquino said in a statement.

“Nagpapasalamat tayo sa Presidente at sa kanyang economic managers sa pag-aksyon sa isyu na matagal nang daing ng mga pamilyang nahihirapan sa taas ng presyo ng bilihin,” Aquino added.

The statement came after Budget Secretary Ben Diokno announced that President Rodrigo Duterte has approved the recommendation to temporary suspend the excise tax on oil products next year.

READ: Diokno: Duterte approves temporary suspension of oil excise tax increase

The senator also hopes that the temporary suspension would later on lead to the overall suspension of the oil excise tax increase.

“Inaasahan namin na ito’y senyales ng pagiging bukas ng pamahalaan sa tuluyang pagbasura lahat-lahat ng buwis sa petrolyo na pinataw ng TRAIN Law,” he said

“Patuloy po natin bantayan at itaguyod ang hangaring ito sa Senado,” he added. /muf