Philippine senators to act on fuel tax relief bill 'as soon as possible'

Senate leaders aim to pass next week the bill granting President Ferdinand “Bongbong” Marcos Jr. emergency powers to suspend or reduce fuel excise taxes amid the Middle East conflict.

Senate President Vicente “Tito” Sotto III told reporters that the Senate intends to approve the measure next week “as soon as possible.”

Senate Majority Leader Juan Miguel “Migz” Zubiri also confirmed the timeline.

“Since it’s certified, we shall finish it next week. That is the plan and it’s a priority as well for the Senate,” Zubiri told reporters.

The announcement came after Marcos certified as urgent the bill giving him authority to suspend or cut fuel excise taxes.

Earlier, the House of Representatives approved House Bill No. 8418 on second reading. This bill would allow the President to suspend or lower fuel excise taxes for up to six months if the average Dubai crude oil price exceeds US$80 per barrel. 

The bill also limits this authority until December 31, 2028.

On the Senate side, the Committee on Ways and Means approved the counterpart measure “in principle” on Wednesday.

Committee Chair Pia Cayetano said she will wait for the House to pass its final version of the bill and transmit it to the Senate before sponsoring it on the plenary floor, hoping to do so by Monday next week.

Zubiri emphasized that the Senate will act on the measure “as soon as possible” once the House approves its version on third reading.

“Yes, by the Constitution, all tax measures must emanate from Congress. As soon as ma-third reading ‘yan sa kanila, at ma-refer na sa atin, then we can act on it on the plenary floor [as soon as possible],” he explained.

-Paraluman News