THE House should first pass the bill slashing individual as well as corporate income taxes before debating lengthily on the measure reviving the death penalty, House senior deputy minority leader and Buhay Rep. Lito Atienza said Sunday.
“If we want our economy to grow faster and create more jobs, we should first bring down personal income taxes from 32 percent to 25 percent, and cut corporate income taxes from 30 percent to 25
percent,” Atienza said in a press statement.
“We should take the cue from the Senate, which has categorically declared that while reducing income taxes is among their main concerns, the reimposition of death sentences is not among their priorities,” Atienza said.
The proposed restoration of the death penalty is not among the urgent bills the Senate plans to approve in the 17th Congress, since there was no assurance it would get the support of the chamber, Senate President Aquilino Pimentel III said last week.
“The bill lowering income taxes is obviously among the priorities of both chambers, so we should approve it first, more so because the Senate cannot pass any tax reform bill until it has been endorsed by the House,” Atienza said.
He cited Article 6, Section 24 of the 1987 Constitution, which mandates that: “All appropriation, revenue or tariff bills, bills authorizing increase of the public debt, bills of local application, and private bills shall originate exclusively in the House of Representatives, but the Senate may propose or concur with amendments.”
“Let us focus on passing the positives, and abandon the negatives. Tax cuts are highly positive. The death penalty is extremely negative,” Atienza said.
He said tax cuts would put more money at the disposal of low- and middle-income families, and help drive household final consumption spending, thus creating greater demand for goods and services, and encouraging industries to expand capacity and increase hiring.
Household final consumption spending accounts for 75.1 percent of the country’s gross domestic product, according to the National Economic Development Authority.
Atienza said lower taxes would also encourage corporate investment spending that would in turn help spur even more jobs.
The House is set to begin this week plenary consideration of the bill restoring the death penalty.
Meanwhile, the bill pruning income taxes is still being threshed out by the House ways and means committee.
