EDITORIAL

Victory for the people?

The crucial tax measure that would give the government much needed funds to help plug a budget deficit and rein in debt has already passed the two houses of Congress.

Once the bill is signed by President Arroyo it will already become a law.

With that the government will now be able to increase corporate income tax to 35% from 32% and be granted authority to raise value added tax (VAT).

The legislation is among several tax measures being pushed by Mrs. Arroyo to raise additional revenues to help balance the books and check ballooning debt.

After much deliberation the House of Representatives ratified the measure Wednesday evening. Voting 145-36 with no abstention, lawmakers passed the crucial government tax bill giving President Arroyo power to raise the VAT rate from 10 percent to 12 percent by next year.

A day earlier the Senate passed the measure.

Malacañang viewed the ratification of the VAT bill as a victory for the Filipino people.

Is that so? What do you think?

Meanwhile, the opposition lawmakers vowed to question the legality of the tax measure with the Supreme Court.

House Minority Floor Leader Francis Escudero contends that the standby authority granted to the President is illegal since it is an undue delegation of the legislative power to the executive.

With the way things are happening, surely, much will still happen with the controversial tax measure.

But one thing is sure—it will add to the burden now being suffered by the Filipinos.