Legarda to file bayanihan bill to address Mideast crisis

Legarda to file bayanihan bill to address Mideast crisis MANILA, Philippines — Sen. Loren Legarda will file a bill to address the impact of the Middle East crisis, similar to the pandemic-time Bayanihan Law. Legarda yesterday said her proposed “Bayanihan Power to the People Act” or “Bayanihan 3” seeks to establish a government framework to help affected Filipino households. She noted that despite the declaration of a state of national energy emergency, prices of basic goods were left unchecked. Legarda also lamented the practice of oil companies selling old stock at escalated prices to cover “replacement costs.” She thumbed down the value-added tax (VAT) on electricity charges, which makes power more expensive. For the senator, the long-term answer is to reduce dependence on imported fuel by transitioning to electric vehicles, renewable energy and diverse sources of fuel. “The nation deserves a coordinated, detailed and effective plan that provides protection and relief in the face of this global crisis,” Legarda said. The Bayanihan 3 bill seeks to give the President temporary powers to ease the financial burden on households, such as removing VAT from basic goods and services. It will also seek emergency revenue measures, such as a wealth tax, as well as higher taxes on non-essential luxury items, alcohol and tobacco. Legarda said her Bayanihan 3 bill will incorporate the findings from the Senate’s PROTECT (Proactive Response and Oversight for Timely and Effective Crisis Strategy) ad hoc hearings on the government’s response to the Middle East crisis. - Latest - Trending