SENATORS are firming up an accord to mitigate the effects of higher levies imposed under the Tax Reform for Acceleration and Inclusion (TRAIN) law. This, even as they need to await House action before pushing the remedial legislation suspending additional oil tax impositions that have been blamed for the higher-than-projected inflation and steep price increases in basic commodities and services.
“About seven or eight senators have spoken publicly with concerns on the TRAIN law, but no consensus yet,” Sen. Bam Aquino told the BusinessMirror on Monday.
Aquino admitted he was “hoping that with the growing clamor from our citizens, the Senate can show our independence and responsiveness to the needs of our countrymen,” amid mounting pleas for relief from burdensome tax impositions under the Duterte administration.
Aquino suggested fellow lawmakers can do this “by supporting the bill I filed to suspend the excise taxes on petroleum products based on rising inflation.” He added the amending bill was already referred to the Senate Ways and Means Committee, “but [there’s been] no scheduled hearing yet.”
Asked how soon the Ways and Means panel can endorse Aquino’s remedial legislation for plenary vote, Senator Juan Edgardo Angara, the committee chairman, explained they are required to wait for the House of Representatives to first pass the tax relief counterpart bill.
“That is a revenue measure so it must originate from the House under the Constitution, so maybe best to await House action, if forthcoming,” Angara said in a separate text message to the BusinessMirror.
Senate Minority Leader Frank Drilon, who heads the six-member minority bloc, confirmed he has yet to get word of an emerging consensus among senators to move for the suspension or amendment of the TRAIN Law, particularly the provision for higher fuel excise taxes.
“I do not see any consensus,” said Drilon, even as he confirmed that members of the minority bloc will help Sen. Aquino push approval of the bill suspending excise tax on petroleum products based on inflation.
Sen. Francis Escudero also confirmed that senators have yet to formalize a consensus in TRAIN Law reforms when Congress reconvenes regular sessions on July 23. “Wala pa [None yet]…[but] I hope so.” Escudero said.