Manila Bulletin
Defensor favors instant relief for consumers as fuel prices soar
Anakalusugan Rep. Mike Defensor proposed the suspension of fuel taxes as the most effective immediate solution for Filipinos experiencing a continuous rise in fuel prices.
He argued that suspending fuel taxes offers more immediate and direct relief compared to other proposals like building oil reserves, which would take years to implement.
Defensor plans to advocate for a three-year suspension of fuel taxes under his House Bill No. 10411.
Alternatively, he supports reinstating the oil tax suspension mechanism from the Tax Reform Acceleration and Inclusion (TRAIN) Law, which was applicable from 1998 to 2000.
Defensor pointed out that the current price of crude oil at $113 per barrel significantly impacts domestic fuel prices, exceeding the $80 per barrel threshold that previously triggered the TRAIN Law's suspension mechanism.
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The House of Representatives is forming an "Fuel Crisis Ad Hoc Committee" to address the escalating domestic fuel prices.
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Senate Minority Leader Franklin Drilon reminded the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) that they have the authority to suspend the collection of fuel excise taxes under the TRAIN Law.
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Senator Risa Hontiveros supports calls to review the Oil Deregulation Law due to surging world oil prices.
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Aksyon Demokratiko presidential candidate Isko Moreno Domagoso is urging Congress to consider a 50% reduction in oil and electricity taxes to provide savings for Filipino families amidst rising global crude prices.
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