NextGen Day

MANILA, Philippines — Due to the escalating Russia-Ukraine conflict, Deputy Speaker Rufus Rodriguez said on Monday that there is a more compelling cause to suspend excise duties on oil goods, echoing his colleagues’ call for Congress leaders to suggest President Rodrigo Duterte called a special session.

“I support my colleagues’ request for a special session. “We must act immediately before crude and domestic fuel costs continue to climb,” Rodriguez added.

Rodriguez also urged Finance Secretary Carlos Dominguez, who opposes the suspension, to “consider the positive aspects of the plan.”

Rodriguez believes that if fuel prices continue to rise in the months ahead, many Filipinos who are currently struggling financially as a result of the pandemic would have to tighten their belts much more.

“If the government lowers oil taxes and fuel costs, it is effectively telling the population, ‘No, don’t tighten your belt any further; keep your current level of economic activity.’ “Instead of having a negative influence on the economy, this will have a beneficial one,” he said.

According to him, the government may impose cuts, particularly on non-essential expenses, to compensate for a projected revenue loss of more than PHP130 billion as a result of the tax suspension.

Malacaang and the Department of Budget and Management, he argued, may cut travel, donations, representation or entertainment, repairs and maintenance, donations, supplies and materials, and utilities from their budgets.

He pointed out that lockdowns and work-from-home for most federal employees should have saved the government a lot of money.

Rodriguez introduced House Bill 10246, which would suspend oil taxes for four years, from January 1, 2022, to December 31, 2025, to provide relief from high fuel prices caused by the Covid-19 outbreak and to allow the economy to fully recover.

Last Monday, deputy speaker and 1-Pacman Rep. Mikee Romero, Anakalusugan Rep. Mike Defensor, and Bayan Muna Rep. Carlos Zarate recommended convening Congress so that proposals to suspend oil taxes could be passed.

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