Akbayan Party-list Representative Perci Cendaña has called on Congress to fast-track deliberations on a proposed wealth tax, emphasizing the urgent need for new revenue sources to cushion Filipinos from the effects of rising fuel prices and inflation.
“With oil prices rising anew and threatening another wave of increases in transport fares, food, and other basic goods, Congress must stop delaying discussions on progressive revenue measures such as a wealth tax,” Cendaña said.
The lawmaker backed former Socio-Economic Planning Secretary Winnie Monsod, who earlier proposed a three-percent tax on the assets of the country’s 50 wealthiest families. Monsod said the measure could help fund subsidies as global fuel costs climb due to geopolitical tensions in the Middle East.
Cendaña stressed that the proposal promotes shared responsibility, noting its potential to support social protection programs.
“At least ₱78 billion ang pwedeng ma-generate mula sa ‘Top 15 Richest Filipinos’ na nasa Forbes list. Kailangan nating magdamayan sa panahon ng matinding krisis at nagtataasang presyo ng basic goods and services,” he said.
The proposal is outlined in House Bill No. 4304, or the Solidarity Contribution Act, filed in September 2025 by Cendaña alongside Akbayan lawmakers Chel Diokno, Dadah Ismula, and Dinagat Islands Representative Kaka Bag-ao. The measure is currently pending before the House Committee on Ways and Means.
Under the bill, individuals with a net worth exceeding ₱300 million would be required to contribute between 1.5 to 3 percent annually.
Funds raised would be allocated for climate adaptation efforts, universal healthcare, disaster response initiatives such as the People’s Survival Fund, and the expansion of mass transportation systems.