TUESDAYAUGUST 2O,2O1

Congress d"t"rmined
to avert budget delay
P!15fir'T!'':,?$i'$.:Ts:Ti"H:,'[::;ilt?*Hffi t*";r'ililx:l j'fi
nounced it wifi start.deriberations on next year,s
nuoget on
Jl:H]
on that dav the commitree, headed by i*,ry;;ilingo Thursday, August 22.
tee discussions to give.every member enougtr of Davao city;wi1 open commit_
time to ,iir" uny concern with the executive
ofificials who drew up
In the Senate, sen'.:uanlhe proposed nuOget."
rdgarOo nng-ara, chairman of the Senate
assured that the senators will work closety Committee on Finance,
possible is done to pass the_budget
*itn $'e i;r;" ililiil-;i,i'"u#ning humanty
in a iesponsiore anJ tir"rv-rirr;;;."'"'
since the 2020 budset - for,p4.t triliionlwiti;;;';o'"
ffi;;lni"n'last year, the House
has also begun early to qS on uitts prwioirg
# ihli" ;oitionat funds. This ear.ty, the House
wavs and Means committee has aiready uipiou"J-tdi;p;ttmi'i.r'oiilr"l
the tax rates on afcohgl prooGionino tne one increasing
other reJucing the corporate income tax but
"streamlines"the tax incintives granted'io-rJiuiln';;;r
Philippines. to induce them to rocate in the
This latter tax bill is the corpolatg llcoTe
Tax and Incentives Reform Act (6ITIM),
was originally known as TRAI'[! 2, for Tax which
Reform for ncceleration and rnctulion
fufther renamed TRABAHO, forTix C"f*m i;rAtir#ifiitgn"r. Act 2, then
and High-euat1y opportuni-
ntio" from raising funds needed forthe-increased
riro ril*nal Budget, SITIMseeks to
withdraw sorire of r6e tax in."niv"t orid;;iry'e;;iloiidi*uign
Zone Authoritv (PEZA) fears it *irr oir.,i*ud""fd6;ilil: ilffT6-JR-rririppine Export
fiom coming to the phirippines
A:H?r"r:y
staft or deriberations; th;1il;;#i;'sive everyoil-td; oppoftunity to
There is one other factor that must be
taken into consideration in the.enactment
particularly the critical ones like the of bills,
wationaiild;i.;hir in"
t
poriticar readersfocu;;-il;il;";?ili"sk of"l"aion"in-'lrluy,
2ozz,when
;ffii;s.ihe nationb next
$:rilXrl"r:'s
Months before the election, potiticials
deep into this political exercise in varying
degrees of involvement. Thus b*r"tuw ryi[.be
ot rinanie-Ea'its oomingr"i ii nop", congress
will be able to finalize action on iii important
bill, long before erection issues ninoer swift congressionaruiurl i..iiriffir'# Nauonat Budget
economic
It is good action on them.
that our leaders in conqresr *";;r'ngi'ht
for we must avoid the three-montnierav on the Nationdl Budget Bill,
in tn. ipir'l*r "urlv
or fie currenl-)drg budger,rhar
;"T.?i,.i#rtunt
projects ano nai Lept.ir iior-#ffi;; our Gross oomestic product
soar

, Poge Q