THE Aquino administration welcomed the approval of House Bill 5727 which seeks to rationalize excise taxes on alcohol and cigarette products, a Palace official said.
Presidential Spokesperson Edwin Lacierda issued the statement during the regular press briefing in Malacanang on Wednesday following the approval of the House Bill 5727 otherwise known as an “Act restructuring the excise tax on alcohol and tobacco products” authored by Cavite Representative Joseph Abaya.
“The bill is a priority measure of the administration that has hurdled a significant step in the legislative process. The initiatives to reform the excise tax system started 15 years ago and it is only under this administration, with the President’s firm leadership, that such a legislative measure has been approved,” Lacierda said.
“The rationale for reform is clear. This measure seeks to help fund public healthcare, which is a key thrust in the administration’s drive for inclusive growth,” Lacierda said.
Lacierda noted that the bill seeks to improve the efficiency of tobacco farmers, strengthen the current tax structure, and sustain revenue growth.
The administration thanked House Speaker Feliciano Belmonte, Jr., Majority Leader Neptali Gonzales II, Ways and Means Committee chairman Representative Isidro Ungab, and a multi-party majority of the members of the Committee who voted to approve the said important measure, Lacierda said.
“This is a testimonial to the close cooperation between the executive and legislative branches of government. We look forward to the legislative deliberations in plenary where we hope the majority of Representatives will stand alongside their colleagues who support fiscal reform,” Lacierda said. (PCOO)
