The bleeding must stop

Filipinos, especially those in the poorest sector, have started feeling the pinch. Prices of basic commodities have gone up since the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

And the government should immediately look for ways to arrest our way out of this serious situation. Failure to speedily put the brakes on the skyrocketing commodity prices will only prolong the agony.

Besides, any failure to confront this problem head-on will only create public perception that the government is doing nothing as millions suffer from the serious effects of the law that is supposedly designed to rake in more revenues for the Duterte administration.

Yes, the TRAIN Law took effect with millions –from minimum wage earners to those earning up to P20,000 a month– no longer having to pay the income tax, an incentive designed to give the labor sector more purchasing power.

But such incentive has been obliterated by an unexpected force when the government started imposing higher taxes on fuel, among others, in a bid to hike revenues. What would have been an added take-home pay has been entirely erased by the rising prices of basic commodities.

Prior to the TRAIN Law’s implementation in January, it was President Rodrigo Duterte who announced that the tax reform law was his gift to the Filipinos, especially the minimum wage earners, as it will raise their monthly income.

But perhaps the government failed to anticipate the danger that was bound to lurk along the way. Government officials seem to have forgotten to lay out measures that would lessen the impact once the TRAIN Law started rolling.

Or perhaps the law’s effects are just temporary and that Filipinos will eventually feel its benefits once the dust settles. But while the law is presently wreaking havoc, it’s sad that there has never been any mitigating measures put in place to stop the bleeding.