Binay vows to prioritize income tax cut
MANILA, Philippines - Vice President Jejomar Binay on Friday vowed to lower income tax rates if ever he wins the presidential race in 2016.
"Sa administrasyon ng partido UNA (United Nationalist Alliance), na pinamumunuan ni Jojo Binay, uunahin nating gumawa ng reporma sa tax system," Binay said in his speech during the oath taking of UNA members in Cebu City.
Binay noted that the Philippines has the highest income tax in Asia and criticized the current administration for opposing income tax reforms.
"Nililito pa nga tayo na kung mangyayari po ang pagbaba ng income tax ay malaki daw pero sa katotohanan may magandang kita ang ating pamahalaan. Hindi po talaga mawawalan ng pera nag ating pamahalaaan," the vice president said.
The vice president stressed that the working class suffers most due to the country's present income tax rates.
Binay also hit President Benigno Aquino III's administration, citing that there is progress but no inclusive growth.
"Nais nilang ipagpatuloy ang kasalukuyang sitwasyon na may pag-unlad nga pero hindi naman nararamdaman ng lahat ng Pilipino. Iilan lang ang nakikinabang sa pag-unlad," Binay said.
He added that the government has enough budget but is not being used properly.
"Ang problema, mga kababayan, ay ang makupad, mabagal, 'teka-teka' at 'analysis by paralysis' na paglalabas ng pera ng Department of Budget and Management o DBM na pinamumunuan ng sikat na si Butch Abad," the vice president said.
Binay said that P75 billion was allotted for housing resettlement but the DBM only released P21 billion.
He stepped down from his post as chair of the Housing and Urban Development Coordinating Council in June.
The vice president launched UNA as the main opposition party in the 2016 polls after his resignation from Aquino's Cabinet.
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