Sen. Bam on missing economic targets: Taumbayan ang kawawa tuwing pumapalpak ang gobyerno

As the economic managers keep missing targets, Filipino families continue to suffer, according to Sen. Bam Aquino.

"Tuwing sumasablay ang gobyerno, taumbayan ang natatamaan," said Sen. Bam, who filed Senate Bill 1798 or Bawas Presyo Bill to suspend Tax Reform for Acceleration and Inclusion (TRAIN) Law's excise tax on fuel.

"Pag mali ang prediksiyon ng economic managers, taumbayan ang nalulunod sa taas-presyo. Pag palpak ang NFA Administrator, taumbayan ang nagugutom. Alalahanin sana ng mga lingkod bayan na ang mga Pilipino ang sasalo pag may kakulangan sa ating trabaho," Sen. Bam added.

Last year, the government released projections that inflation will be within two percent to four percent. It later revised this projection to four percent to 4.5 percent.

Presently, inflation stands at 5.7 percent. And in a recent Senate hearing, the Department of Finance admitted they did not study the indirect effects of the TRAIN Law. The country's GDP hit 6.8 percent in the first semester, short of the target of was 7-8 percent.

Rather than working on other means to lower inflation, Sen. Bam said the government should support his measure that aims to suspend the excise tax on fuel under the TRAIN Law.

"Solusyunan na natin itong taas-presyo. Simple lang, ipasa ang Bawas Presyo Bill at tanggalin na ang excise tax sa petrolyo," urged Sen. Bam.

Sen. Bam filed Senate Bill No. 1798 or the Bawas Presyo Bill, which seeks to suspend the excise tax on fuel under the TRAIN Law when the average inflation rate surpasses the annual inflation target over a three-month period

Sen. Bam stressed that this should be certified urgent since there is a scheduled second round of increase in excise tax on fuel under the TRAIN Law in January 2019.