Funding mass transport projects sought in tax reform measure

SENATOR Grace Poe in a statement on Friday, Nov. 10, proposed that revenues from petroleum excise taxes in the first tranche of the Duterte administration’s tax reform package could be used to supplement public mass transportation projects.

“We are hoping that this earmark in the tax reform could help fund ambitious mass transportation projects without the need to fully rely on foreign borrowings,” Ms. Poe, chairperson of the Senate committee on public services, said in her statement.

Senator Juan Edgardo M. Angara sponsored last September Senate Bill No. 1592, or the proposed Senate version of the Tax Reform for Acceleration and Inclusion (TRAIn) Act as prepared by the committee on ways and means, which he heads.

Under the earmarking provisions of the bill, the government shall allocate incremental revenues generated from the petroleum excise tax to the unconditional cash transfer program for the bottom 50% poorest households, as well as to the implementation of Public Utility Vehicle modernization project.

Ms. Poe wants this amended to include “other mass transportation projects.” She said she has written Mr. Angara to consider her proposal.

These public transport projects should “provide an efficient way to serve an expanding population, address congestion and reduce costs,” the senator said in her statement.

The statement also noted the Finance department’s estimates showing some P40 billion in revenues if the Senate version on oil excise taxes is approved.

Ms. Poe issued her statement amid the periodic malfunction in the Metro Rail Transit 3.