The House of Representatives leadership expects Malacañang to certify as urgent the proposed measures granting President Ferdinand Marcos Jr. emergency powers to suspend or reduce excise taxes on petroleum products.
Parañaque 2nd District Representative Brian Yamsuan said the certification could be received “by tomorrow or this week,” allowing Congress to fast-track approval before its March 20 recess.
Two bills are pending in the chamber: House Bill 8257 authored by Marikina 2nd District Representative Miro Quimbo, and House Bill 5961 filed by Batangas 6th District Representative Ryan Recto. Both seek to empower the President to act on excise taxes in response to surging fuel prices caused by Gulf region tensions.
Yamsuan also pushed for amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Act or RA 10963, noting that the law only allowed suspension of excise taxes until 2020 when global oil prices reached $80 per barrel.
“Yung safety nets natin doon nag-expire na… Kaya humingi ng emergency power ang pangulo sa tingin ko kasi alam niya ang probisyong ito na ang wording ng batas natin two years lang ang ibinigay sa kanila,” Yamsuan explained.
He stressed the need to institutionalize automatic mechanisms so future crises would not require emergency powers.
“Kailangan na nating i-institutionalize, kailangan na nating iamend ang TRAIN law,” Yamsuan added.
Filipinos are bracing for steep fuel price hikes, with reports of possible increases of ₱24.92 per liter for kerosene, ₱19.62 for diesel, and ₱10.43 for gasoline, to be finalized on March 9.