Marcos orders support for middle class — Recto

President Ferdinand Marcos Jr. has directed the government to support the middle class following a report that 6.5 million Filipinos were lifted out of poverty between 2023 and 2025, Executive Secretary Ralph Recto said Monday.

“That is the marching order of the President: Support the middle class and prevent 6.5 million Filipinos from sliding back into the zone of poverty,” Recto said in a statement.

Recto said the government will not be complacent, citing the Middle East crisis as well as climate disruptions.

He said the government will address the issues through “a program that will fast-track high-impact infrastructure projects that can generate jobs, stimulate local economies, reduce logistics costs, and attract more investments.”

It said the administration is also eyeing measures that will lower household expenses, increase disposable income, strengthen the middle class, and spur consumption.

Aside from this, the government is also eyeing to increase the personal income tax exemption of individuals to P350,000 annually, freeing up to P17,500 every year per worker, and converting a tax payment to purchasing power.

The Marcos administration is also looking to exempt small businesses from the Minimum Corporate Income Tax, to amend the Electric Power Industry Reform Act, and to pass the Sariling Kuryente Act which makes the installation of solar and battery systems simple, easy, and cheap for households.

Meanwhile, Recto said the administration will “continue prioritizing price stability measures” to keep food, fuel, electricity, and other basic necessities affordable.” —RF, GMA News