How has 2018 treated your wallet so far? Ever since the government passed the Tax Reform for Inclusion and Acceleration (TRAIN) package into law, we've all had to make adjustments to our budgets, especially when buying cars and fuel. Some have had to make bigger adjustments than others.
To this end, Senator Bam Aquino has filed a Senate Resolution to urge the appropriate committees to take a look at TRAINS's impact on our economy. In particular, the senator cited the increase in excise tax on fuel.
"It is our duty to ensure all reforms benefit our countrymen and do not make life more difficult for Filipino families," said Senator Aquino, who voted against the TRAIN law during its ratification.
"Kailangan suriin muli ang TRAIN. Maging bukas tayo sa pagsuspindi sa excise tax kapag nakitang nakasasama na ito sa kabuhayan ng mga Pilipino," he added.
The senator pointed out that Congress approved the increased excise tax after the Department of Finance promised that inflation would not be affected by more then 0.7%. However, the Philippine Statistics Authority reported a 4.3% increase this past March.
"Huwag nating hayaang lumala pa ang kahirapan at pagkagutom ng mga Pilipino," said Senator Aquino.
Do you guys reckon the government should rethink its tax policy? Share your thoughts below.