BAYAN Muna Represen-tative Carlos Zarate filed House Bill 7653 on Thursday to counter the “anti-poor and anti-people” facets of the Tax Reform for Acceleration and Inclusion (TRAIN) law.
“House Bill 7653 will repeal the anti-poor and anti-people provisions of the TRAIN law to lessen the burden on consu-mers, because they are the ones bearing the brunt of the TRAIN law,” Zarate said in a statement.
“They don’t even feel the supposed 6.8% growth of the Philippine economy,” he added.
Zarate said that the HB 7653 has provisions that will bring back the prices of oil products and remove the added excise tax on sugar-sweetened beverages. He added that the bill will also restore the Value Added Tax (VAT) exemption of electricity sales and low-cost housing, among others.
“This bill should not be seen as a hindrance by the administration and taken as a means to assuage the suffering of our poor countrymen,” Zarate said.
The lawmaker hopes that the House of Representatives would act on the bill immediately.
“We hope that this bill will be fast-tracked by Congress because the economic suffering being endured by our countrymen because of the TRAIN law is very real and should be addressed the soonest time possible,” Zarate said.