The government is being urged to widen its support for the working and middle classes, saying many Filipinos continue to grapple with rising fuel and commodity prices without receiving sufficient assistance.
In his Labor Day message, Senator Bam Aquino stressed that workers and middle-income earners, who make up a significant majority of the population, play a crucial role in driving the economy but are often left out of government aid programs.
He said the financial strain brought about by high prices, particularly for petroleum products, has disproportionately affected this sector, underscoring the need for more inclusive support measures.
Amid ongoing economic pressures, the senator called on authorities to prioritize policies that would directly ease the burden on working families. Among his key proposals are the suspension of excise taxes on fuel and a reduction in the value-added tax (VAT) from 12 percent to 10 percent.
Aquino said these measures would help lower everyday expenses and provide immediate relief to households struggling with the cost of living.
To push these reforms, he filed Senate Bill No. 2047, which seeks to amend provisions of the National Internal Revenue Code to reduce VAT on goods and services, including petroleum products. He also backed Republic Act No. 12316, which grants the President authority to suspend or adjust fuel excise taxes during emergencies.
Earlier, Aquino also introduced Senate Bill No. 265, proposing the removal of excise taxes on several fuel products under Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
The senator said these measures form part of his broader legislative agenda aimed at making daily living more affordable for Filipinos. His proposals include a P200 across-the-board wage increase for private sector workers, VAT exemption on electricity, and higher income tax exemption thresholds to boost take-home pay.
Other measures he is advocating include increased salaries for government nurses, the removal of travel taxes within Southeast Asia, expanded pensions for senior citizens, and free annual medical check-ups for all Filipinos through the Philippine Health Insurance Corporation.
Aquino is also pushing for reforms that would standardize compensation and benefits for barangay workers and promote profit-sharing schemes between employers and employees to encourage inclusive growth.
He added that subsidies for electricity and other mandated discounts should be funded through the national budget to ensure transparency and prevent additional costs from being passed on to consumers, particularly those in the working and middle-income sectors.