Press Release
June 20, 2018

Sen. Bam: Shield farmers and fisherfolk from price surge, suspend TRAIN excise tax

Senator Bam Aquino renewed his push to suspend the excise tax on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, saying the high prices of fuel also drive up cost of agricultural products.

Sen. Bam said the government, especially the Department of Agriculture (DA), should recognize fuel increase as one of the main reasons for price increase.

"Kailangan natin tulungan ang mga magsasaka at mangingisda na pababain ang kanilang production at transportation cost para bumaba ang presyo ng agricultural products," said Sen. Bam, one of four senators who voted against the TRAIN Law.

"Ito ang pinaka-epektibong paraan para maibsan ang hirap ng mga nalulunod sa taas ng presyo ng pagkain," the senator added.

Sen. Bam insisted that suspending the excise tax on petroleum products could help lower prices of fuel, which in turn, would contribute to the lowering of prices of agricultural products.

"Itong pagsuspinde sa TRAIN sa petrolyo ay malaking tulong sa ating mga magsasaka at sa mga mamimili," said Sen. Bam, saying that farmers also use diesel for their farm machinery such as tractor.

Sen. Bam has filed a measure seeking to roll back of TRAIN's excise tax on fuel when average inflation rate surpasses the annual inflation target over a three-month period.

In addition, Sen. Bam is also pushing for the full implementation of mitigating measures under the TRAIN Law, such as the unconditional cash transfer program for poor families and the Pantawid Pasada for jeepney operators and drivers.

Also, Sen. Bam wants the Pantawid Pasada program expanded to include fishermen, who use unleaded for bancas and diesel for big fishing vessels.

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