The overwhelming approval last week by the House of Representatives of the Tax Reform for Acceleration and Inclusion bill “will pave the way in solving the problem of inequality between the elite and marginalized Filipinos,” said Albay Rep. Joey Sarte Salceda, one of it principal authors.
TRAIN (House Bill 5636) is a consolidation of Salceda’s original HB 4688 and several other measures, particularly HB 4774 by Quirino Rep. Dakila Carlo Cua. It adopted the title and most provisions of Salceda’s bill and the proposals of the Department of Finance, which seek to lower the personal income tax and deliver “a total monetary impact of P354 annually on the country’s poorest households.”
Cua and Salceda are chairman and senior vice chairman, respectively, of the House Ways and Means Committee.
President Rodrigo Duterte earlier certified the measure as urgent.