Aquino Pushes Measures to Fight War-Induced Inflation
Philippine Senator Bam Aquino has proposed several legislative measures to combat inflation caused by the conflict between the United States and Iran. His proposals include tax cuts on fuel and electricity, as well as wage increases for nurses and teachers.
Why it matters
The article illustrates how geopolitical conflicts can trigger domestic economic instability, forcing policymakers to seek legislative relief for citizens.
SEN. Bam Aquino urged the government on Saturday to implement actions to ease the effect of inflation on Filipinos triggered by the resumption of war between the United States and Iran.Aquino said the recent increase in petroleum prices would also increase the prices of basic commodities, transportation fares and other essential services."Filipinos should not be left to endure one price increase after another. We must take decisive action to reduce household expenses, bring down the cost of goods and provide meaningful support to workers and the middle class," he added.The senator called for the prompt approval of legislative measures he filed to cushion the effects of inflation on Filipinos.Among the measures is Senate Bill 2047, which seeks to reduce the value-added tax (VAT) from 12 percent to 10 percent, lowering taxes on goods and services, including petroleum products.Under his "Panukalang Batas para sa Abot-Kayang Pamumuhay" agenda, Aquino filed Senate Bill…
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in