Angara calls for lowering of income tax rates
Senator Juan Edgardo Angara. FILE PHOTO
MANILA, Philippines— Approving measures to lower income tax rates will help restore people’s trust in their elected representatives in both houses of Congress, Sen. Juan Edgardo Angara said Monday.
As Congress’ ratings fell in light of recent controversies, Angara renewed his push for the passage of bills that will result in bigger take-home pay for workers. He contested finance officials’ opposition to the measure, saying they refused to think out of the box despite the country’s inequitable tax system.
Angara has authored a bill that would adjust income tax brackets and lower income tax rates across the board, with the highest rate reduced to 25 percent from 32 percent. According to him, middle income earners are the most burdened under the current tax system, with people who make P50,000 a month paying the same tax rate as the country’s billionaires.
Similar measures are pending in the House of Representatives.
According to Angara, approving the bills would be a sensible move on all fronts, especially since doing so would directly benefit the people who will have more money to spend on their needs. Another side benefit is that Congress could appear more favorable in the people’s eyes.
“Passing such measures would go a long way to alleviate our people’s suffering and help them and their families live better lives, not to mention helping to restore the people’s faith in both houses of Congress,” Angara said in a text message.
He said he was looking forward to the approval of similar measures in the House of Representatives so that his own bill could get moving in the Senate’s ways and means committee.
The Senate committee could not come out with a report on the bill as yet, he said, because under the Constitution, all appropriation, revenue, or tariff bills must originate exclusively in the House of Representatives.
The House ways and means committee has already included the bill on its agenda and many House members have indicated their support for it, he said.
