WATCH: Binay defends proposal to raise income tax exemptions

MANILA, Philippines - Vice President Jejomar Binay has been promising, in campaign speeches and political ads, to exempt those earning P30,000 a month and less from paying income taxes.

The administration has urged caution on cutting taxes, saying the government needs the money to pay for social services and for projects. Minimum-wage earners are already exempted from paying taxes on their income.

Binay said, however, that government will not be short of money even if it forgoes some of the revenues from income tax collections.

Watch how Binay justifies his proposal to cut taxes and why he thinks the Aquino administration could have done more to improve the lives of poor Filipinos:

- Text by Rosette Adel, video by Efigenio Toledo IV