ILOILO CITY — Rep. Julienne “Jam-Jam” Baronda of this city has filed a bill authorizing President Ferdinand R. Marcos Jr. to temporarily suspend or reduce excise tax on petroleum products due to the Middle East war.
“This measure aims to cushion Filipino consumers and the national economy from the immediate impact of sharp petroleum increases during global crises,” said Baronda in House Bill No. 8359.
Baronda noted that excise taxes under Republic Act No. 10963 are fixed.
“While these taxes are an important source of government revenue, the law does not provide sufficient flexibility for the government to respond quickly to extraordinary global events that sharply drive up fuel prices,” said Baronda in her explanatory note.
“Rising fuel prices quickly translate into higher transportation costs, increased electricity generation expenses, and higher prices of basic goods, placing a significant burden on Filipino consumers and businesses,” Baronda added.
Baronda has joined congressional leaders calling for a temporary suspension of the tax.
Among them are House Speaker Rep. Faustino “Bojie” Dy III and Majority Leader Rep. Sandro Marcos.