Bam Aquino: TRAIN should be suspended

Senator Bam Aquino is blaming the implementation of the TRAIN law for the surge in the prices of commodities. /Inquirer file photo

After the approval of a P1 provisional jeepney fare hike, Senator Joel Villanueva on Friday said government needs to step up and address the factors that drive the rise of prices of goods and services in the country.

While admitting that the provisional fare hike would sustain the livelihood of jeepney drivers, Villanueva said government must still find practical solutions to address the negative impact of inflation on Filipinos.

“The government really needs to step up to address the factors driving the accelerating prices of goods and services in the country,” Villanueva said in a statement.

The senator also proposed the lowering of the value added tax (VAT) from the current 12 percent to just 10 percent. He also cited the liberalization of rice importation “to allow Filipino families to avail of cheaper rice products.”

Senator Paolo “Bam” Aquino contradicted Malacañang on its statement that the 5.2 percent inflation surge in June is something not to worry about, as he pointed out that Filipinos are being affected by the high prices of goods due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law.

“Dapat lang na mabahala ang gobyerno sa matinding taas presyo. Huwag natin ito maliitin dahil pinapahirapan nito ang ating mga kababayan,” Aquino said in a statement Friday.

“Para maging matagumpay ang pagsugpo sa kahirapan, kailangan magsimula sa pagsugpo ng taas presyo sa pamamagitan ng pagsuspinde sa TRAIN,” added Aquino, one of the four senators who voted against the approval of the said law.

In his statement, Aquino said he has submitted a bill seeking to suspend and roll back the excise tax on fuel under the TRAIN law once the average inflation rate surpasses the annual inflation target in a span of three months.