He stressed that some groups are pushing to include middle income earners in the tax exemption proposal.
The finance secretary expressed apprehensions that more government projects will be affected.
He also stressed that in the time of crisis, there are also groups who tend to abuse the situation.
President Gloria Macapagal-Arroyo announced that Congress leaders who attended the recent Legislative-Executive Development Advisory Council (Ledac) meeting in Malacañang gave her their assurance that the proposed tax exemption of minimum wage earners will be passed in time for Labor Day.
She said the legislators consider the bill as their priority in 15 measures discussed during the Ledac meeting.
Quoting Senator Manuel Roxas, she said the tax break -- which is "imperative" in light of the increasing prices of fuel, food and other consumer products -- would provide "clear relief" to minimum wage earners.
The passage into law of the proposed measure that seeks to exempt from income tax all minimum wage earners would be a great gift to the labor sector on May 1, the President said.
Senate President Manuel Villar, Senators Rodolfo Biazon, Loren Legarda, Francisco Pangilinan, Richard Gordon, Juan Miguel Zubiri, Manuel Roxas III represented the Senate while the House of Representatives delegation was led by House Speaker Prospero Nograles.
Sectoral representatives also attended the Ledac meeting, she said.
The Ledac meeting, the first for this year, discussed the rice problem and measures to mitigate the impact on the consumers of the rising prices of other commodities. It also tackled the common legislative agenda to be prioritized by Congress for passage.
Since 2001, President Arroyo said her administration has been focused on "modernizing every aspect of economic underpinnings of the Philippines," including the agriculture sector.
The Chief Executive also called on the Price Coordinating Council to help government monitor the prices of basic commodities.
