Sen. Angara Warns Tax Reform Proposals are Too Aggressive

Sen. Sonny Angara, the head of the Senate ways and means committee, warned that the first tax reform package of the administration is too aggressive. He said that the proposal to levy an excise tax on fuel would lead to a six percent rise in food prices. The additional tax on automobiles would also result to an increase in prices from two to 84 percent, depending on the vehicle’s classification. Angara’s warning dampens further the administration’s target to have the proposal passed into law by June this year…

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