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Mikey Arroyo backs calls for special session of Congress to suspend fuel excise tax

By RICHA NORIEGA,GMA News

Pampanga Representative Juan Miguel "Mikey" Arroyo has joined calls for Congress to hold a special session to pass a measure suspending the excise tax on fuel products to help cushion the impact of rising oil prices.

Arroyo, chairperson of the House energy panel, issued the call after the hearing conducted by the Fuel Crisis Ad Hoc Committee on Monday.

Arroyo said the loss for the suspension of fuel excise tax could be compensated by the windfall profit the government earned through the extra collections it made on value added tax (VAT) and excise tax due to the spate of fuel price increases in recent weeks.

He said that this was similar to what happened during the latter years of the administration of his mother, former President Gloria Macapagal Arroyo.

“Before my mother’s term ended, there was also a spate of fuel price increases. To mitigate its impact, then President Arroyo utilized the windfall profit the government collected in excess of its projected revenue through the VAT and excise tax imposed on fuel,” the Pampanga solon said in a statement.

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Senators Sherwin Gatchalian, Risa Hontiveros and Joel Villanueva also pushed for the suspension of excise tax on fuel products.

Albay Representative Joey Salceda earlier said President Rodrigo Duterte has the moral obligation to call for a special session of Congress in light of the continuous increase in fuel prices.

On March 8, oil companies imposed the biggest price increase for petroleum products this year, marking the 10th week of price hikes.

Malacañang has called on Congress to review the Oil Deregulation Law, particularly the provisions on unbundling the price and the inclusion of the minimum inventory requirements in the law, as well as giving the government the authority to intervene when there is a spike and/or prolonged increase in prices of oil products. — VBL, GMA News