The House of Representatives approved on second reading a bill granting President Marcos Jr. special powers to suspend or reduce fuel excise taxes during national or global emergencies.
House Bill No. 8418 allows the President to act quickly if fuel prices surge due to crises, with strict conditions, triggers, and a maximum six-month duration.
The measure requires recommendations from the Development Budget Coordination Committee and coordination with the Secretary of Energy, ensuring relief is targeted and temporary.
The Senate is reviewing a similar measure, with lawmakers working on technical details to consolidate several related bills.
While the Department of Finance supports the move, officials warn that suspending the tax could cost the government billions, prompting discussions on managing budget shortfalls.
Source: PhilNews24 | March 12, 2026
HOUSE OKS PRESIDENT MARCOS’ REQUEST FOR FUEL EXCISE TAX POWERS
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