Ex-VP Binay pushes for higher income tax exemptions for Filipino workers

Former Vice President and senatorial candidate Jejomar Binay gets a warm welcome from Baguio City Mayor Benjamin Magalong during a visit to the Baguio City Hall. Binay was the guest of honor during the city government’s flag-raising ceremony where he also met city officials and employees.

MANILA, Philippines — Former Vice President and senatorial aspirant Jejomar C. Binay on Wednesday proposed further increasing income tax exemptions to benefit more working Filipinos.

Binay said both the middle class and minimum wage earners have been affected by the increase in prices of basic commodities and fuel triggered by the Russia-Ukraine conflict.

“Minimum wage earners and the middle class are also struggling to recover from the economic dislocation caused by pandemic and the prolonged lockdown. They need to be provided with some form of economic relief,” Binay said.

Binay said raising income tax exemptions will benefit a wide range of employees, from office clerks, government employees, teachers, policemen and call center agents.

“Tax savings will help more Filipinos cope with the economic uncertainties caused by the Ukraine conflict and the pandemic,” he said.

It will also encourage consumer spending which is needed to lift the economy, he added.

At the same time, Binay urged the Regional Wage Boards to immediately resolve pending petitions to increase the minimum wage.

“The sooner these petitions are addressed, the earlier we can provide relief for minimum wage earners,” he said.

But for Micro, Small, and Medium Enterprises (MSMEs), Binay reiterated his proposal for wage subsidies to be given directly to workers.

The former vice president, who is running under the United Nationalist Alliance (UNA), also said government should sustain its cash and food aid for the poorest of the poor.

“Maraming eksperto na ang nagsabi na may kakayanan ang gobyerno ng magbigay ng mas mataas na ayuda sa ating mga mahihirap na kababayan. Kung kaya namang ibigay, dapat ibigay,” he said.

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