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MANILA – Economic managers should also present the negative impact of the administration’s tax reform package, Sen. Sherwin Gatchalian said Thursday, as he doubted the proposal would be approved in full.
“I trust the economic managers are giving the President [the] full view of the entire comprehensive tax reform, hindilang ‘yungtataas ‘yung revenue by P1 trillion in the next five years but ano din angmagigingimpact nitosaekonomiya at saatingpamilya,” Gatchalian said in an interview.
“I think dapat transparent in that aspect, hindilang ‘yungmagandangbalitapero ‘yung negative consequences din,” he said.
Gatchalian, a member of the Senate ways and means committee, issued the statement after President Rodrigo Duterte appealed to the Senate to pass the tax reform proposal as it is.
Several senators earlier said they cannot support the proposed TRAIN or the Tax Reform for Acceleration and Inclusion Act as a package.
Several of them have opposed the provisions on additional excise tax on oil, imposing new taxes on sugar-sweetened beverages, and lifting the value-added tax (VAT) exemption on socialized and low-cost housing.
Gatchalian said Duterte and his economic managers should be open to compromises on the tax reform package.
“Hindi natinpwedeisara ‘yungatingisipdito. That’s why, even in the Senate, we are looking for strategies how to address different issues because this is really a comprehensive tax reform,” Gatchalian said.
“I’m very optimistic that we will find a solution. I think everyone wants infrastructure, everyone wants a better life for our families and kailangantalagang revenues for that, we should also look at the impact of it all in our family’s lives,” he added.
Meanwhile, Sen. Joel Villanueva said government agencies should first address problems of absorptive capacity while Congress must to review procurement laws before raising new taxes.
“Hindi sagotsalahatngproblemangpamahalaansapananalapiangpaglikha o pagtaasngbuwis,” Villanueva said in a text message.
“I agree with President Duterte that Congress should revisit our procurement laws, it’s the major reason why there’s a big chunk of ‘still’ unused funds,” he pointed out.
Sen.PanfiloLacson earlier said the Duterte administration should address government underspending before it asks for a law that would increase taxes and put additional burden on the public. (GMA News)
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