Sen. Bam: Gov't should be alarmed, protect poor from high inflation rate

Senator Bam Aquino contradicted government's claim that the 5.2-percent inflation rate in June is not alarming, saying it should be concerned about the suffering of the Filipinos on the high prices of goods due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

"Dapat lang na mabahala ang gobyerno sa matinding taas presyo. Huwag natin ito maliitin dahil pinapahirapan nito ang ating mga kababayan," said Sen. Bam, in reaction to Malacanang's statement that the current inflation rate is not something to worry about

"Hanggang nalulunod sa taas presyo ang mga kababayan natin, hindi magiging epektibo ang mga programa kontra-kahirapan," added Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

Sen. Bam hopes that the President will address the issue of the TRAIN Law in his State of the Nation Address (SONA) and focus on anti-poverty measures to help ease the burden of Filipinos, especially the poor.

"Umaasa tayong pagtutuunan ng Pangulo sa kanyang pangalawang SONA ang pagsugpo sa kahirapan para tulungan ang ating mga kababayan na maitawid ang pangangailangan araw-araw at makaahon," Sen. Bam pointed out.

"Para maging matagumpay ang pagsugpo sa kahirapan, kailangan magsimula sa pagsugpo ng taas presyo sa pamamagitan ng pagsuspinde sa TRAIN," he added.

Sen. Bam has been pushing for the suspension of the excise tax on petroleum products under the TRAIN Law as it could help lower prices of goods and services.

The senator has submitted a bill seeking to suspend and roll back the excise tax on fuel under the TRAIN Law once average inflation rate surpasses the annual inflation target over a three-month period.

In addition, Sen. Bam is pushing for the full implementation of mitigating measures under the TRAIN Law, such as the unconditional cash transfer program for poor families and the Pantawid Pasada for jeepney operators and drivers.