Romualdez vows efficient tax collection, enough funding for gov”t programs

Speaker Martin Romualdez on Thursday vowed the efficient collection of taxes and enough resources for government programs under the Marcos administration in a speech before the Philippine Chamber of Commerce and Industry (PCCI).

At the PCCI’s General Membership Meeting in Makati City, the Leyte congressman said these will be achieved because Congress’ priority legislations will be anchored on the Marcos’ administration’s Medium Term Fiscal Framework (MTFF) with the following goals:

attaining food security; reduction of transport and logistic costs; reduction of energy cost to families; addressing public health concerns; strengthening of social protection programs; return to face-to-face classes; enhanced bureaucratic efficiency; and sound fiscal management

“The philosophy is simple: efficient collection of taxes especially under a strong economy ensures adequate funding for government programs,” Romualdez said.

“The MTFF is a fiscal consolidation and resource mobilization plan. The objective: in the short run, keep the macroeconomy stable and provide adequate social services; in the medium term, generate more jobs, quality jobs, green jobs,” Romualdez added.

Romualdez said that the majority of the priority measures spelled out by President Ferdinand “Bongbong” Marcos, Jr. in his State of the Nation Address are principally authored by him, and as such, he expects his fellow House members to act on them with dispatch.

Romualdez was referring to these priority measures:

the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act; Valuation Reform Bill; Passive Income and Financial Intermediary Taxation Act or PIFITA; E-Government Act; Internet Transaction Act or E-Commerce Law; National Land Use Act; Enactment of an Enabling Law for the Natural Gas Industry; Amendments to the Electric Power Industry Reform Act; and Amendments to the Build-Operate-Transfer (BOT) Law.

“In fact, I am hopeful that we can approve most of these measures before the year ends,” he added.

Likewise, Romualdez said Congress will be consulting with PCCI from time to time since he wants all stakeholders to be heard before passing legislation.

PCCI, according to its website, is “a non-stock, non-profit, non-government business organization of small, medium, and large enterprises, local chambers and industry associations representing various sectors of business, all working together to foster a healthier Philippine economy and improve the viability of business in the community.” — BM, GMA News

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