Two senators have filed separate proposals seeking to grant President Ferdinand Marcos Jr. the power to temporarily suspend or reduce excise taxes on fuel during national or global economic emergencies.
Senators Chiz Escudero and Kiko Pangilinan filed the measures Monday, aiming to amend the National Internal Revenue Code to allow the President to adjust excise and value-added taxes on petroleum products based on recommendations from the finance secretary and the Development Budget Coordination Committee.
Pangilinan highlighted the urgency of the proposal amid rising global oil prices, emphasizing its potential to ease the financial burden on ordinary Filipinos.
“Such measures would support timely relief, help ease inflationary pressures, and reduce cost burdens on Filipino consumers, particularly farmers, fisherfolk, transport workers, and small businesses,” his bill stated.
Escudero also urged Congress to act quickly, citing escalating oil prices linked to hostilities in the Gulf region.
“Considering the urgent need to protect the Filipino people from sudden oil price shocks and their inflationary effects, the immediate approval of this measure is earnestly sought,” Escudero said.
Senate records indicate that at least six lawmakers have filed similar proposals, all currently pending at the committee level.
Last Sunday, Marcos announced in a video message his intention to request Congress to grant him authority to reduce or suspend fuel excise taxes, noting that such powers are constitutionally vested in the legislative branch.
He added that the request would be routed through the Department of Energy, though it remains unclear whether the agency has formally submitted it to both chambers.