Minority senators welcome Malacanang’s move to suspend January’s excise tax increase on petroleum products under the Tax Reform Tax Reform for Acceleration and Inclusion (TRAIN) Law, calling it a win for the Minority Bloc, Sen. Bam Aquino, and especially the Filipino people.
In a statement, Minority Floor Leader Franklin Drilon and Sens. Francis Pangilinan, Antonio Trillanes, Leila de Lima, and Risa Hontiveros, congratulated their fellow minority lawmaker, Sen. Aquino, for this small victory in his push to remove the TRAIN Law’s excise tax on fuel.
“Ipinaglalaban ito ni Sen. Bam sa nakaraang anim na buwan, kaya masaya tayo na sang-ayon na ang Malacanang sa pagsuspindi ng buwis sa petrolyo,” the minority senators said.
“Isang panalo ito para sa Minority Bloc at makatutulong sa pagtulak namin sa joint minority resolution para tanggalin na ang excise tax ng TRAIN Law sa produktong petrolyo. Inaasahan namin na susuportahan na ito ng buong Senado,” they added.
Malacanang recently announced that they plan to suspend the January increase in excise tax on fuel under the TRAIN Law, acknowledging that the said taxes are a burden to the Filipino people.
As early as May 10, 2018, Sen. Aquino filed Senate Bill No. 1798 or the Bawas Presyo sa Petrolyo Bill, seeking to suspend the collection of excise tax on fuel once inflation rate breaches the annual inflation target over a three-month period.
For its part, the minority has filed a joint resolution suspending the excise tax under the TRAIN Law and mandating the rollback of levy on fuel to December 31, 2017 rates.
In their joint resolution, the minority senators stressed the need for the urgent intervention of the Congress of the Philippines to mitigate the inflationary effects of rising fuel prices by suspending the increases in excise tax on fuel under RA No. 10963.
The minority also called on their fellow lawmakers from the majority to take a unified stand on suspending the excise tax on fuel.