President Rodrigo Roa Duterte gives a salute as he walks past the foyer guards during prior to his departure at the Ninoy Aquino International Airport for his three-day official visit to the Republic of Korea on early Sunday morning, June 3, 2018. KING RODRIGUEZ/PRESIDENTIAL PHOTO
President Rodrigo Duterte on Saturday night left to Congress the fate of the tax reform law amid calls to suspend it due to soaring prices of fuel and basic goods.
“The law was enacted by Congress. I’ll leave it to Congress to decide whether or not to amend or suspend or modify the law,” Duterte told reporters before boarding his flight to South Korea for an official visit.
Duterte said “There’s no value in giving much” of opinion for what he wanted for the Tax Reform for Acceleration and Inclusion (Train) law because he could not do anything if the Congress decided to suspend it.
“Kung sabihin ko naman na because we need it for the Build, Build, Build at kung sabihin, wala naman akong magawa,” the President said.
“At kung sabihin naman nila well, we’ll just have to bite the bullet and go on. Wala rin akong magawa kung ‘yan ang decision nila,” he added.
Groups have called for the suspension of the Train law amid rising prices of fuel and basic commodities.
The Bangko Sentral ng Pilipinas (BSP) said it was projecting the inflation rate in May to settle within the 4.6 to 5.4 percent range, higher than 4.5 percent recorded in April.
The BSP attributed the “upward pressures” on inflation to global influences and to higher rice prices.
“Higher domestic petroleum prices amid geopolitical tensions in the Middle East as well as the sustained increase in rice prices present upward price pressures for the month,” central bank economists said.
READ: May inflation may hit a high of 5.4%, say BSP economists
Senators have called for the suspension of the excise tax on petroleum products to help the poor cope up with the skyrocketing prices. /cbb