Senator Bam Aquino on Friday, July 24, reiterated his push for legislation that would raise the personal income tax exemption cap from ₱250,000 to ₱480,000 per year, arguing the adjustment is critical to providing workers with greater take-home pay during persistent inflationary pressures.
Aquino’s Senate Bill No. 267 proposes modifications to the National Internal Revenue Code to spare individuals earning up to ₱480,000 annually from paying income taxes.
Submitted on July 8, 2025, the draft law was among the initial measures he championed following his return to the Senate in the 2025 midterms, serving as a response to widespread calls for wage relief and economic support.
“It has been stalled for nearly a year, so we are hopeful that when the session opens, it will be included in the priority legislation to provide immediate assistance and better wages to our fellow citizens, thereby increasing their take-home pay,” Aquino said.
The lawmaker emphasized the heightened urgency of the initiative, noting that everyday expenses continue to escalate while worker purchasing power stagnates.
“It is high time to enact this into law, given the numerous price hikes for goods and services. Workers’ wages have lagged behind these increases, and their purchasing power has diminished,” he explained.
Aquino argued that the current exemption baseline set under Republic Act No. 10963, commonly known as the TRAIN Law, has been rendered outdated by sustained inflation.
Boosting the tax-free limit, he noted, would directly help families manage basic expenses like groceries, medical care, and schooling, while simultaneously spurring consumer spending to drive national economic performance.