Sen. Bam: Bawas Presyo Bill is safer fix to inflation vs. lower tariffs on meat, fish

Rather than impose lower tariffs on fish and meat to lower inflation, Sen. Bam Aquino said the government should focus on the suspension and roll back of excise tax on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

"Natutuwa tayo na tanggap na ng administrasyong na napakalaking problema ang mataas na inflation at presyo ng bilihin," said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

"Subalit, sa planong bawasan ang taripa, baka ang ating mga magsasaka't mangingisda ang tamaan dahil sa pagbaba ng presyo ng imported na karne at isda," warned Sen. Bam.

"Tulungan na lang ang ating mga kababayang magsasaka at mangingisda na mapababa ang cost of production para bumaba ang presyo ng kanilang produkto at lumaki ang kanilang kita," suggested Sen. Bam, adding that productions cost has even gone up because of the price of petroleum and government's excise tax on fuel.

Sen. Bam stressed that solutions to inflation shouldn't burden poor families, especially our farmers and fishermen who are already struggling to compete with imported goods.

"Gusto natin solusyunan at aksiyunan ang taas-presyo, pero gawin natin ito na walang nasasagasaang magsasaka't mangingisda. Ipasa na sana ng Kongreso ang Bawas Presyo Bill," said Sen. Bam as he renewed his push for the passage of Senate Bill No. 1798, or his "Bawas Presyo Bill."

Sen. Bam's measure 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.

According to Sen. Bam, a roll-back of the excise tax on fuel under the TRAIN Law could help bring down the prices of goods and services and the rise in inflation rate. It will also help lower expenses of farmers and fishermen.

Sen. Bam warned that another round of increase in the excise tax on fuel will happen on January 2019 under the TRAIN Law.

"Huwag naman natin hayaan na itaas pa ng gobyerno ang presyo ng petrolyo habang nalulunod ang mga Pilipino sa gastos," Sen. Bam stressed.