TWO lawmakers are pushing separate measures aimed at easing the financial burden on Filipino workers amid rising prices and slowing economic growth.
Sen. Mark Villar has filed Senate Bill 2137 seeking to raise the annual income tax exemption ceiling to P360,000 from the current P250,000, saying the proposal would help workers cope with the increasing cost of living and strengthen household spending.
Under the proposed measure, individuals earning up to P360,000 annually would be exempted from paying income tax, while graduated income tax brackets would also be adjusted to reflect inflation and current economic conditions.
The senator said the proposal comes as Filipino households continue to grapple with rising prices of food, fuel, electricity, transportation and other essential commodities. The Bangko Sentral ng Pilipinas earlier projected inflation to average 3.6 percent this year, above the government’s three-percent target.
“Habang patuloy na tumataas ang presyo ng mga pangunahing bilihin at serbisyo, dapat lamang na mabigyan ng dagdag na ginhawa ang ating mga manggagawa. Sa pamamagitan ng panukalang ito, mas malaking bahagi ng kanilang kinikita ang maiuuwi nila para sa pang-araw-araw na pangangailangan ng kanilang pamilya,” Villar said in a statement.
(As the prices of basic goods and services continue to rise, it is only right that we provide additional relief to our workers. Through this measure, they will be able to bring home a larger portion of their income for their families’ daily needs.)
Meanwhile, Sen. Sherwin Gatchalian renewed his call for a P1,500 monthly subsidy for around five million minimum wage earners following higher inflation, slower first-quarter economic growth, and forecasts of persistently elevated prices.
“Lest we forget, the country is still in a crisis amid all the political noise. Our people, particularly the vulnerable sectors, are suffering from high prices of basic commodities and need a little respite,” Gatchalian said in a separate statement.
He noted that inflation of 7.2 percent had significantly eroded purchasing power. Using P1,000 in 2018 as the base value, purchasing power fell to P732.60 for the total population and P715.82 for the bottom 30 percent of households.
Gatchalian said the proposed subsidy would help minimum wage earners manage daily expenses while supporting domestic consumption and economic activity.
“Malaking bahagi ng sweldo ng mga minimum wage workers ang napupunta sa pang-araw-araw na gastusin kagaya ng pagkain at pamasahe. Kailangan natin silang tulungang malagpasan ang krisis na patuloy nating hinaharap,” he added.
(A large portion of the salaries of minimum wage workers goes to daily expenses such as food and transportation. We need to help them overcome the crisis we continue to face.)
The P1,500 monthly subsidy proposal was among the recommendations of the Senate Protect ad hoc panel and is estimated to cost the government about P7.5 billion per month if implemented. / KOC