The bill granting President Marcos the authority to temporarily suspend or reduce excise tax on fuel products--easily the most sought-after measure in Congress in light of the raging conflict in the Middle East--was approved on second reading on Wednesday night, March 11.
Gaining penultimate passage in the 300-plus strong House of Representatives via simple voice vote (ayes vs. nayes) was House Bill (HB) No. 8418. The measure is titled, "Act authorizing the President to suspend or reduce excise taxes on petroleum products during national or global economic emergencies, amending for the purpose the National Internal Revenue Code of 1997, as amended."
The presiding officer at that time, Deputy Speaker Ilocos Sur, 2nd district Rep Kristine Si
Continue Reading on Manila Bulletin
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.