Sen. Bam dares gov't to roll back excise tax on fuel

Senator Bam Aquino challenged the government to act now and roll back the excise taxes on petroleum products under its tax reform program to lift the burden of high prices on the Filipino people, especially the poor.

"Nalulunod na ang mga Pilipino sa taas ng presyo. Huwag na natin antayin na tumaas lalo ang bilihin," said Sen. Bam, one of four senators who voted against the ratification of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

"Aantayin pa ba nila ang 2019? Hindi pa ba aaksyon ang pamahalaan?" asked Sen. Bam.

Sen. Bam made this pronouncement after the Department of Energy (DOE) declared that the TRAIN Law allows for immediate suspension of excise taxes on petroleum products.

However, the DOE said the suspension would only cover the additional excise tax due for 2019.

"Next year is too late. Hirap na hirap na ang mga Pilipino sa pagtaas ng presyo," said Sen. Bam.

In his privilege speech on Wednesday, Sen. Bam emphasized that one of the ways to alleviate the burden of the Filipino people is to suspend the excise tax on petroleum products under the TRAIN Law.

In his Senate Bill No. 1798, the excise tax on fuel under the TRAIN Law will be rolled back when the average inflation rate surpasses the annual inflation target over a three-month period.

Sen. Bam included this safeguard during the TRAIN deliberations, but the provision was removed from the final draft of the law during the bicameral conference.