Finance Secretary Carlos Dominguez III. KING RODRIGUEZ/ Presidential Photo (FILE)
The Department of Finance (DOF) cannot just ask President Rodrigo Duterte to veto the watered-down tax reform bill both chambers of the Congress intend to pass, Senators said on Tuesday.
Senate President Pro Tempore Ralph Recto took a swipe at the DOF, saying it “does not have a monopoly on what is good for the country.”
Recto was reacting to Finance Secretary Carlos Dominguez III’s earlier statement that the DOF considers “an option” recommending the Chief Executive’s to veto the bill if it wouldn’t generate P137 billion in net revenues.
READ: President may veto watered-down tax reform bill
If the revenue is below that target, Dominguez said the government will not be able to support its infrastructure projects. The budget deficit may also balloon to unacceptable levels, he said.
“It’s always better to work with both the House and Senate than to threaten congress with a veto… It’s never easy to pass tax laws,” said Recto in a text message.
“The representatives of the people are more sensitive to people’s concerns,” he added.
Senator Sonny Angara, who chairs the Senate ways and means committee, reminded the DOF that “a good working relationship with the legislators would be key going forward.”
“It’s a bit early for that considering the Senate committee has yet to come up with a final version. It is best to engage lawmakers positively because my reading is that a majority of lawmakers wish to help the President in this regard,” Angara said in a statement.
“We note that the administration has a number of remaining reform packages it wishes to push, and a good working relationship with the legislators would be key going forward,” he said. IDL