Senator Imee Marcos on Sunday urged the swift passage of Senate Bill No. 2005, a measure that would raise income tax exemptions and tax-free bonus ceilings to help workers cope with rising living costs amid global oil supply issues.
The bill proposes increasing the personal income tax exemption threshold to ₱500,000 annually, doubling the current ₱250,000 set under the Tax Reform for Acceleration and Inclusion (TRAIN) law. It also seeks to raise the tax-exempt ceiling for bonuses and benefits, including the 13th-month pay, to ₱200,000 from ₱90,000.
“Kailangan ito upang mas malaki ang maiuuwi ng mga manggagawang Pilipino sa gitna ng sunod-sunod na pagsirit ng presyo ng mga bilihin dahil sa krisis!” Marcos said, emphasizing the urgency of providing financial relief.
While acknowledging that the government has limited control over global oil-driven price surges, Marcos stressed that increasing workers’ take-home pay would give households vital support to meet daily expenses.
The measure now awaits deliberation in the Senate, where lawmakers are expected to weigh its potential impact on both workers and the national budget.