Press Release
May 4, 2018

Sen. Bam to gov't: Protect Filipinos from killer combo of rising prices and unemployment

Senator Bam Aquino called the increase in prices of goods and the rising unemployment a killer combo that needs to be addressed immediately.

"Huwag natin i-knockout ang pamilyang Pilipino sa combo na pagtaas ng presyo ng bilihin at kawalan ng trabaho," said Sen. Bam, one of only four senators who voted against the ratification of the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

A recent Pulse Asia survey indicated that 98 percent of respondents claimed the prices of basic goods they usually purchase have increased due to the tax reform law, and around 86 percent said they were strongly affected by the prices increases.

In addition, a latest survey by SWS showed that the number of unemployment Filipinos rose to 10.9 million, the highest since 2016.

"Hindi na biro ang epekto ng TRAIN sa mga Pilipino, kaya tayo tumutol dito. Ngayon na mas malala pa pala ang kinalabasan nito, dapat lang na pag-aralan at solusyunan ang matinding pagtaas ng presyo," said Sen. Bam.

Sen. Bam said he will present stories of Filipinos affected by the TRAIN Act from the series of community dialogues that he conducted in different parts of the country when the Senate conducts a hearing on the tax reform program on May 9 (Wednesday).

"Mahalagang mailabas natin ang bigat na ibinibigay ng TRAIN upang ito'y marepaso at nang maibsan ang pasanin ng ating mga kababayan," said Sen. Bam.

Sen. Bam also urged Congress not to move forward with TRAIN 2, as it may exacerbate the problem of unemployment by removing incentives for certain businesses.

Sen. Bam has filed Proposed Senate (PS) Resolution No. 704, calling for a review of the TRAIN Act, claiming it greatly contributes to the increase in prices of goods and services that burdens Filipinos, mostly the poor.

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