Photo Release

November 26, 2020

Drilon Sides with Gordon Amendment on Fiscal Incentives: Minority Leader Franklin Drilon says he is in favor of an amendment introduced by Sen. Richard J. Gordon to Senate Bill No. 1357 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill during the hybrid plenary session Thursday, November 26, 2020. As a policy, he said, the country is trying to decentralize the powers of the national government. Giving additional power to the Fiscal Incentives Review Board (FIRB) to include approval of tax incentives for entrepreneurs under SBN 1357, he said, would centralize government powers. “I am really in favor of the rationalization of the fiscal incentives because a number of our incentives right now are prone to abuse and therefore our coffers would suffer. I had hoped that we would tackle the bill separately from the income tax portions as I have proposed,” Drilon said. (Screen grab/Senate PRIB)