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By Hannah Torregoza
Senator Joseph Victor "JV" Ejercito warned Sunday economic managers of the state that the passage of the second installment Tax Reform for Acceleration and Inclusion (TRAIN) would be derailed if they did not provide legislators with accurate information as they did when they pushed for the first package of the tax reform program.
Ejercito personally is not convinced that TRAIN 2 would impede the appointment of the Senate especially if the Ministry of Finance and other government financial institutions refuse to be frank about the possible repercussions of the measure in their future discussions.
"I will not even think about considering the TRAIN package 2 unless I get clear guarantees from our economic directors that this measure will not be "This means that government economists need to provide us with accurate and well-researched data and, more importantly, demonstrate A total transparency, "said Mr. Ejercito when he was commented on the government's proposal. "TRAIN 2 will derail if it feeds us with false information and deceives us as we did when we were talking about TRAIN 1," he adds.
Senate Speaker Vicente Sotto III Earlier admitted senators are now reluctant to support the measure after economists were wrong to evaluate the impact of TRAIN on inflation.
The Senate majority leader, Juan Miguel Zubiri, said that no senator would want to take this step. on TRAIN 2.
Ejercito, however, said that he could support the DOF's proposal to push for increased taxes on tobacco products and alcohol. The leader of the Senate minority, Franklin Drilon, also expressed support for the increase in the sin tax and the measure to streamline the tax incentives granted to businesses
"Yes, I will definitely push for tobacco.The health care program, "said Ejercito ..
" It will now be an income as well as a health measure, "said the chairman of the Senate committee on health and demographics. and streamlining tax incentives are two sound fiscal measures that deserve careful scrutiny by Congress.
"Yes, it's the right direction to improve revenue collection," he said: "Instead of raising taxes, I would prefer to collect taxes more efficiently." Tax increase is the lazy way to increase revenue, "added Ejercito.
Tags: accurate information, Juan Miguel Zubiri, JV Ejercito, legislators, train, TRAIN 2
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