Rrogancia Said The National Government Expects Php346 9 Billion In Revenues From Various Excise Taxes For 2022 Of That Total News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MANILA-A lawmaker on Friday recommended reallocating some amount in the budget to finance the proposed transportation cash subsidy or "Transpo Ayuda" to public utility vehicle drivers, as well as those in the farming and fisheries sectors that were severely hit by the oil price surge. Davao City Rep. Isidro Ungab said the government should study the possibility of setting aside some projects and reallocating a portion of the budget to be used as subsidies or some form of direct assistance to help mitigate the impact of the continued oil price hikes. "We acknowledge that everyone is feeling the brunt of these oil price hikes, but the ones suffering the most are those in the transport, farming, and fisheries sectors," Ungab said in a statement. Ungab's proposal is in consonance with President-elect Ferdinand "Bongbong" Marcos Jr.'s plan to focus on helping those most affected by the hikes by giving financial aid instead of suspending oil excise tax. ....

Davao City , Ferdinand Bongbong Marcos Jr , Transpo Ayuda , Isidro Ungab , Reynan Arrogancia , President Elect Ferdinand , Manilaa Lawmaker On Friday Recommended Reallocating Some Amount In The Budget To Finance Proposed Transportation Cash Subsidy Or Quot Transpo Ayuda Public Utility Vehicle Drivers , S Well As Those In The Farming And Fisheries Sectors That Were Severely Hit By Oil Price Surge Davao City Rep Isidro Ungab Said Government Should Study Possibility Of Setting Aside Some Projects Reallocatinga Portion Budget To Be Used Subsidies Or Form Direct Assistance Help Mitigate Impact Continued Hikes Quot We Acknowledge Everyone Is Feeling Brunt These , Ut The Ones Suffering Most Are Those In Transport , Nd Fisheries Sectors , Uot Ungab Said Ina Statement 39s Proposal Is In Consonance With President Elect Ferdinand Quot Bongbong Marcos Jr Plan To Focus On Helping Those Most Affected By The Hikes Giving Financial Aid Instead Of Suspending Oil Excise Tax Quoti Agree Bbm Directive Finding Viable Solution This Distress Our Kababayans Are Experiencing Now , Nd At The Same Time , He Government Must Ensure That This Will Not Be To The Detriment Of Our Country 39s Economic Stability , Uot He Said Meanwhile , Ngab Cautioned Against Oil Excise Tax Suspension , Rguing That The Government Might Be Losinga Huge Amount Of Funding , Hich Could Be Used To Help The Marginalized Sector In Times Of Crisis Quot Option Suspend Taxes Should Ona Case Basis There Isa Need Study Proposal , R Else The Government Might Run Out Of Funds , Hich Might Causea Huge Problem , Uot He Said Collections From Excise And Value Added Taxes Have Already Been Projected Revenues In The Budget , Nd Thus Already Allotted To Finance Major Projects And Programs Of The Government If Decides Suspend These Taxes , Ngab Computed The Estimated Loss In Revenue Collection To Be Around Php100 Php200 Billion Quoti Support 100 Percent Pbbm 39s Position Provide Direct Assistance Or Ayuda Those Really Affected By Rising Oil Prices Than Suspend Excise Tax On Fuel Products Is Right Saying That Reducing Does Not Necessarily Help Who Are Directly Energy Crisis , Uot He Said Quezon Rep Elect Reynan Arrogancia , Aid Congress Should Suspend The Collection Of All Fuel Excise Taxes For 90 Days Or Three Months Citing Macroeconomic And Revenue Settings 2022 National Budget , Rrogancia Said The National Government Expects Php346 9 Billion In Revenues From Various Excise Taxes For 2022 Of That Total , He Projection For Excise Taxes On Fuel Is Php106 7 Billion The Entire Year Said If Incoming Administration Decides To Suspend Tax ,