Both majority and minority congressmen hailed the committee-level passage of a substitute bill that would authorize the Chief Executive--in this case, President Marcos--to suspend or reduce excise tax on fuel products under certain emergency situations.

Leyte 1st district Rep. Martin Romualdez, Bicol Saro Party-list Rep. Terry Ridon, and Ako Bicol Party-list Rep. Jan Chan all cited the measure's urgency, given the escalating hostilities in the Middle East--a major oil producer.

Romualdez, a former two-time House Speaker, said in a statement Tuesday, March 10 that the bill would give the President flexibility in responding to the oil crisis and price volatility and help the people, especially the poor and the vulnerable.

“An excise tax suspension or reduction will be a big relief to our people at this time of soaring fuel prices. A suspension would mean a retail price reduction of P6 to P10 per liter,” Romualdez, Lakas-Christian Muslim Democrats (Lakas-CMD) president, said.

Romualdez’s House Bill (HB) No. 5779 was one of the 15 bills and two joint resolutions tackled by the House Committee on Ways and Means in its hearing Tuesday. Before the hearing was over, the panel approved the substitute bill.

The ex-Speaker's proposal intends to permanently scrap excise taxes on oil products and provide lasting relief to the public. “That would have been the ideal measure, but I also understand the need for the government to continue relying on billions in excise tax collections for vital social services,” he noted.

At the same time, Romualdez called on oil companies to reveal the volume of their respective inventories on which they have already paid excise levies.

His fellow member from the majority bloc, Chan, similarly praised the committee over the development.

"We welcome the approval of the House Ways and Means Committee sa panukalang magbibigay ng emergency authority sa Pangulo para pansamantalang ma-suspend ang fuel excise tax kung kinakailangan," Chan said in a separate statement.

(We welcome the approval of the House Ways and Means Committee of the proposal granting the President emergency authority to temporarily suspend the fuel excise tax when necessary.)

"Sa gitna ng oil price volatility sa world market, mahalagang may mabilis na paraan ang gobyerno para maibsan ang dagdag na pasanin ng mga motorista at ordinaryong Pilipino (Amid oil price volatility in the world market, it is crucial for the government to have a swift mechanism to ease the added burden on motorists and ordinary Filipinos)," added the neophyte lawmaker.

Meanwhile, Ridon, a minority bloc solon described the panel’s passage of the sought-after measure as "timely". For him, it's just what the doctor ordered.

“This legislation represents a timely and decisive response by Congress to the growing volatility in global oil markets. With tensions in key petroleum-producing regions threatening to disrupt global supply and push fuel prices higher, the Philippine government must have the necessary tools to respond quickly and decisively to protect Filipino consumers,” he said in his own statement.

Ridon, a member of the ways and means panel, said the measure underscores the legislature’s commitment to cushion the economic impact of fuel price hikes on ordinary Filipinos.

"It ensures that government can immediately intervene when global crises threaten to drive up fuel prices and worsen the economic burden on ordinary Filipinos,” he said.