Around six million public and private sector employees stand to gain from the abolition of income taxes on those earning P30,000 a month or less, Senator Nancy Binay said on Wednesday.
Binay has made a commitment to file the enabling bill in the 17th Congress. She said it is high time the situation for many middle income earners was addressed.
“This is the time to give comfort and security to our many countrymen who are earning below P30,000,” she said.
The senator said workers and employees can now loosen their belts on their daily needs.”
“Workers and employees can now bring more food to their families. They can already buy so many things,” he said.
Binay said a family with two to three children needs at least P30,000 a month to live comfortably on a budget.
“If the P30,000 will be taxed, some items in the budget will be affected. There’s a need to adjust and reduce expenses in the basic necessities like food, rental fees, or electric and water bill and also fare going to work and school,” he said.
The senator added that many middle income earners are the ones who immediately feel the undue burden of paying taxes because they are the ones bordering higher income tax brackets.
In her proposed measure, Binay said that income tax brackets would be amended to keep up with the rising prices.
Binay will also file her bill on electronic violence against women and children (E-VAWC) bill, meant to safeguard victims of online violence from further harm against their perpetrators who could be a close/distant relative, former spouse/partner or an ex-boyfriend/girlfriend.
Other priority measures include increasing the amount Social Security System (SSS) pensioners receive to P3,200.00 a month for members with at least 10 credited years; the regularization of barangay officials; and granting incentives to public school teachers.
She said this proposed measure is a continuation of the campaign promise of her father outgoing Vice President Jejomar C. Binay.