SENATORS met with the government’s economic managers to discuss the Tax Reform for Acceleration and Inclusion Bill (TRAIN) on Thursday, but said they reached no decision.
Senate Committee on Ways and Means Chairman Juan Edgardo M. Angara said items discussed at the meeting included “the proposed taxes on petroleum, sweet beverages, and ways to cushion the impact on the poor.”
However, “no firm decisions today” said Mr. Angara. The meeting was more of an “initial exchange of views and probably first of more such meetings,” he said.
He said that among those who were present were Senate President Aquilino dlL. Pimentel III, Senators Loren B. Legarda, Maria Lourdes Nancy S. Binay, Cynthia A. Villar and Miguel F. Zubiri.
Mr. Pimentel added that though much discussed, he viewed the meeting as a “brainstorming” session.
Also present were Finance Secretary Carlos G. Dominguez III, Department of Budget and Management Secretary Benjamin E. Diokno, Socioeconomic Planning Secretary Ernesto M. Pernia and Department of Finance Undersecretary Karl Kendrick T. Chua.
According to Mr. Pernia, the senators “seem to appreciate the tax reform more.” He said that the economic managers explained the impact of the program on inflation and employment. However, he also noted that the senators still have questions particularly on the sugar-sweetened drinks tax.
Mr. Dominguez, on the other hand, said that the economic team simply sat down and listened to the senators on how “we can improve the tax reform package.”
“We got a lot of inputs and we resolved to meet again probably early next week,” he said. He noted however that the senators were “supportive of the tax reform package.”
TRAIN is one of President Rodrigo R. Duterte’s urgent bills. It is currently being heard in the Senate with the senators having questions about the proposed tax treatment of housing, sweetened beverages and fuel. According to Sen. Franklin M. Drilon, during an emergency meeting last Tuesday, the President said he is open to amendments and has yet to set a deadline for the senators.
The Committee on Ways and Committee is scheduled to come out with a report in September according to Mr. Angara. — Mario M. Banzon
