2018 budget, TRAIN to cut poverty –DU30

PRESIDENT Duterte has launched “our national, initial step toward cutting the poverty rate to 14 percent and making the Philippines an upper middle class by 2022.”

Serious anti-poverty and proprogress policy laid down by DU30. Keep watching!

*** The President said he pushed and signed into law the R3.767trillion national budget or General Appropriations Act (GAA) of 2018 and the Tax Reform for Acceleration and Inclusion (TRAIN) for good reasons.

To accelerate infrastructure projects, launch free college education and carry out other reforms in the country, DU30 said.

*** “Two laws that I signed are the fulfillment of my campaign promise to institute genuine fiscal reform that will be felt by every Filipino,” the President said.

GAA and TRAIN will generate about R130 billion in much-needed revenues, he pointed out.

*** In effect, the implementation of these two laws “will serve as our national, initial step toward cutting the poverty rate to 14 percent and making the Philippines an upper middle class by 2022,” Duterte said. The DU30 vision is spelled out.

*** The President commended the timely submission of the draft and budget and the determination of the leadership of both houses of Congress, especially the Appropriations and Finance committees for ensuring the careful scrutiny and prompt approval of the budget.

Translation: Thanks for the cooperation.

*** Duterte said the 2018 GAA is 12 percent higher than last year’s budget, and will support infrastructure development and free education in state universities and colleges, universal health care, free irrigation, and the maintenance of peace and order around the country.

“This will also fulfill my campaign promise of doubling the basic pay of our soldiers and police officers, which will take effect on the very first day of 2018,” he said.

“This is the administration’s biggest Christmas gift to the Filipino people as 99 percent of the taxpayers will benefit from a simpler, fairer, and more efficient tax system,” Duterte added.

Effective January 1, 2018, those earning below R250,000 will be exempt from income tax, he said.

*** Duterte said the law also addresses long and overdue corrections in our tax laws and introduces a more progressive tax system where the rich and the poor will contribute to give better services to our people.

“This is just an initial part of our gains under the comprehensive tax reform programs and Package 2 will deal with corporate income tax early next year,” he said.

*** “The passage of 2018 GAA and TRAIN is not just a victory for the legislative and executive branches of government, it is a victory for our people,” Duterte said.

Okay, Mr. President, this time let the people win.

*** Among those who were present at the signing were Senate President Aquilino Pimentel III, House Speaker Pantaleon, members of the Cabinet led by Executive Secretary Salvador Medialdea, some members of both the House and the Senate, local officials, and leaders from the business sector.

My partners in development, DU30 may have whispered.

*** Senator Loren Legarda said the R3.767-trillion national budget is the highest allocation by any administration, while Finance Secretary Carlos Dominguez III added that the tax reform package is the government’s “biggest New Year’s gift” to the Filipino people that will usher in “real positive change.”

Yes to poverty reduction! Yes to change! But no to loose change!