Sen. Bam: Ayusin ang TRAIN Law, i-rollback ang tax sa petrolyo

Sen. Bam Aquino welcomed the House of Representatives' move to tackle measures to shelve the excise tax on petroleum under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, hoping that the Senate could follow suit and work for its complete removal.

"Magandang balita na kumikilos na ang Kamara para maitama ang ilang probisyon sa TRAIN Law na dahilan ng pagtaas ng presyo ng bilihin," said Sen. Bam.

"Kailangan talagang ayusin ang TRAIN Law mahihirap ang nasasagasaan nito," he pointed out, adding that the 6 percent inflation rate for November remains above the government's target of 2-4 percent.

Sen. Bam hopes that the Senate can start tackling his Bawas Presyo sa Petrolyo Bill and the minority's Joint Resolution No. 15, which are both seeking to suspend the excise tax under the TRAIN Law and mandate the rollback of levy on fuel to December 31, 2017 rates.

"Hopefully, the Senate can follow suit and tackle these crucial measures before the end of the year," said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

Sen. Bam said the passage of these measures is crucial after Malacanang decided to implement the excise tax on fuel in 2019 after initially expressing desire to suspend it.

"Mas mahalagang madaliin ang pagsasabatas nito dahil hanggang ngayon, mahal pa rin ang presyo ng pagkain at iba pang bilihin na ikinalulunod na ng marami nating kababayan," said Sen. Bam.

Earlier, Sen. Bam called on the government to reconsider its decision to push through with the collection of excise tax on fuel in 2019.