Senator Loren Legarda is set to file the Bayanihan Power to the People Act, or the so-called Bayanihan 3 Law, which seeks to establish a decisive government framework in addressing the impacts of the global oil crisis on Filipino households and the national economy. Legarda stressed that Executive...
The Makabayan bloc in the House of Representatives have filed measures seeking to repeal the much-panned Oil Industry Deregulation Act, as well as the imposition of a billionaire wealth tax amid successive and hefty fuel price hikes. Lodged by the militant solons at the legislative chamber were...
With tough times ahead, austerity is the new buzzword. Yes, Virginia, we are in belt-tightening mode. The legs of inflation have walked their way into every aspect of basic services, with no apparent de-escalation of hostilities on the horizon. As an emerging economy, the Philippines is believed to...
Malacañang assured Filipinos that the government will take every action "within the bounds of the law" to cushion impacts caused by the ongoing crisis in the Middle East. "Ang gobyerno po, lahat ng puwedeng gawin within the bounds of law ay gagawin po (The government will do everything it can...
President Marcos has signed the law giving him emergency powers to suspend or reduce excise tax on petroleum products. Marcos signed Republic Act (RA) No. 12316 on Wednesday, March 25, fulfilling what he said earlier in the day that he would be signing the measure into law within the day. Under...
President Marcos said he might sign the bill seeking to suspend the fuel excise tax by Wednesday, March 25. In a press conference in Malacañan on Wednesday afternoon, Marcos confirmed that he has received the copy of the bill. "Natapos na ang kanilang pag-aaral doon sa batas na 'yan at nasa...
The House of Representatives has finally transmitted to the Senate House Bill (HB) No. 8418, which authorizes the President to temporarily suspend or reduce fuel excise tax as a way to help cushion the impact of global oil price spikes on Filipinos. Signed on Tuesday, March 24 by Speaker Faustino...
Malacañang said President Marcos has yet to receive the emergency powers bill allowing the suspension or reduction of excise taxes on fuel, but assured the public that he will sign it immediately once it reaches his desk. In her press briefing on Monday, March 23, Presidential Communications...
Manila Mayor Francisco "Isko Moreno" Domagoso announced on Thursday, March 19, the release of P1,094,082,181.12 to all 896 barangays in the city. The fund aims to support residents as global oil prices surge to unprecedented levels due to the ongoing conflict in the Middle East. Domagoso made the...
President Marcos said the government’s decision to suspend or reduce excise taxes on fuel will depend on global oil price movements, stressing that the situation remains highly unpredictable amid the ongoing conflict in the Middle East. Marcos said this after Congress approved on the third and...
The Senate is looking to pass next week the bill authorizing the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies. This was after President Marcos certified it as urgent. Yet the Senate cannot sponsor a counterpart bill until the...
President Marcos has certified as urgent a bill authorizing the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies. In a letter dated March 12 addressed to House Speaker Faustino Dy III, Marcos said the immediate enactment of House Bill...
