The country's economic managers should discuss in detail how they will help implement President Ferdinand "Bongbong" Marcos Jr.'s plans for the Philippines as stated in his recent State of the Nation Address (SONA).
Senator Chiz Escudero made the call on Wednesday, July 27, saying that while Marcos's vision is "very compelling", the "hard part funding those dreams".
Escudero said it's important to consider that the Chief Executive’s projects will ultimately be paid for by the taxpayers.
“Every government program carries a price tag, often hidden, while the purported benefits are highly praised. Lost in the euphoria is the fact that it is the people, and nobody else, who will eventually pay for them. The buck begins with the taxpayer,” he said.
Escudero asked the economic managers “how are they planning to plan the projects", which include creation of specialty hospitals and expansion of the "Build, Build, Build" program of the previous administration.
“Will it be through new taxes or new borrowings? Will the people pay in pain right now through higher taxes or will the government just take a mortgage on our children’s future? We need to know,” he said.
Escudero also cautioned the Department of Finance (DOF) against imposing new taxes that will make life harder for the majority of Filipinos.
On the proposed Value Added Tax (VAT) imposition on Netflix and online digital transactions via e-commerce sites Lazada and Shopee, the senator said the economic managers should be able to present a clear and comprehensive proposal before doing so.
“There is no doubt that the people have united behind the President’s articulation of their aspirations. But unity is soluble in taxes – high and unfair taxes,” he stressed.