Leody De Guzman eyes people’s initiative to pass proposed wealth tax | Inquirer News

Leody De Guzman eyes people’s initiative to pass proposed wealth tax

/ 11:24 AM February 04, 2022
Labor leader Leody de Guzman. Image from Facebook / Ka Leody de Guzman

Labor leader Leody de Guzman. Image from Facebook / Ka Leody de Guzman

MANILA, Philippines — Presidential aspirant Leody De Guzman will resort to people’s initiative if Congress would not pass his proposed wealth tax on the richest families in the country.

During the “Panata sa Bayan” forum conducted by the Kapisanan ng mga Brodkaster ng Pilipinas (KBP), De Guzman said that he would propose the imposition of a 20% tax on the “rich.”

ADVERTISEMENT

He was then asked by the panelist how he planned to implement this considering that such policy would require legislation in Congress.

“Dapat dumaan ‘yan sa Congress pero kung hindi ipapasa ng Congress, gagamitin natin yung People’s initiative na pamamaraan para maaprubahan yung batas na ‘yan na mag-impose tayo ng wealth tax sa lahat ng mga mayayaman,” he said.

FEATURED STORIES

(It should go through the Congress, but if it will not be passed, then we will go through people’s initiative so that can be passed and we can impose wealth tax on the wealthy.)

The revenues from the wealth tax can be used in helping the economy recover, the labor leader said.

De Guzman earlier noted that top billionaires in the country continued to see their net worth grow even while the economy has not recovered yet from the dire impacts of the COVID-19 pandemic on Filipinos’ jobs and livelihood since 2020.

Aside from this, De Guzman said other possible sources of funds include recovering the ill-gotten wealth of the Marcos family.

EDV
Read Next
Don't miss out on the latest news and information.

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: #2022candidates, #VotePH2022, Congress, Leody de Guzman., People’s Initiative, wealth tax
For feedback, complaints, or inquiries, contact us.

Subscribe to our daily newsletter



© Copyright 1997-2022 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.