House OKs Marcos Jr. special power on fuel excise tax

President Marcos has come closer to wielding special powers in cushioning the impact of soaring oil prices, with the House of Representatives’ approval yesterday on second reading of a measure authorizing him to suspend or reduce the excise tax on fuel.

11 Mar, 16:00 — 11 Mar, 17:43

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Why this matters

The rising global oil prices have a significant impact on consumers and the economy, making legislative efforts to mitigate these effects crucial. Granting special powers to the President or suspending excise taxes could provide immediate relief but also has implications for government revenue and fiscal policy.

Key entitiesMarcos Jr.House of Representatives Senate committee on ways and means

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What sources agree on

The House of Representatives has approved a measure on second reading concerning fuel excise taxes
The measure aims to grant President Marcos Jr. special powers to address the impact of soaring oil prices
The Senate committee on ways and means is still finalizing its version of a bill related to fuel excise taxes

Key claims3 agreed

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The House of Representatives approved a measure on second reading yesterday.

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The measure authorizes President Marcos Jr. to wield special powers in cushioning the impact of soaring oil prices.

The Story

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Sources

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inquirerMostly Factual45d ago

Senate panel finalizing details on fuel excise tax suspension

MANILA, Philippines — The Senate committee on ways and means is still in the process of finalizing its version of a bill that aims to suspend excise taxes for petroleum products, amid the fuel price hike, the committee’s chairperson Sen. Pia Cayetano said on Wednesday. Cayetano told the press that the committee still lacks details, such

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philstarMostly Factual45d ago