Congress might ratify the proposed tax reform measure by Monday next week, Senate Minority Franklin Drilon said on Tuesday.
“We expect to have the bicam report ratified by the Senate on Monday before we adjourn so we can have it in place by January,” Drilon told reporters.
The congressional bicameral conference committee composed of members of the Senate and House of Representatives has been conducting closed-door meetings to ensure the passage of the measure also known as the Tax Reform for Acceleration and Inclusion (Train) bill.
While there were “compromises,” Drilon was confident that both chambers would reach an agreement.
“Yes it’s moving. Again I’d repeat we expect the bicam report to be submitted for ratification to both chambers by Monday,” he said.
Congress is scheduled to go on a monthlong holiday break starting Dec . 15.
Senator Sonny Angara, chair of the Senate committee on ways and means, earlier said that the bicam panel had already reached an agreement on at least five provisions of the measure, including the proposed tax exemptions for all workers earning less than P250,000 a year.