The House Makabayan bloc on Tuesday filed the proposed Tax Reform Act for the Masses and the Middle Class (TRAMM) to address “imbalances” in favor of poor and middle class households in the country.
The House Makabayan bloc on Tuesday filed the proposed Tax Reform Act for the Masses and the Middle Class to address “imbalances” in favor of poor and middle class households in the country.
The lawmakers said rising commodity prices and untamed inflation in the past few years all the more justify the need for a tax reform package that would reduce the income tax rates of overburdened Filipino working class families. “Rising prices and untamed inflation rates in the past few years all the more justify the need for a tax reform package that would reduce the income tax rates of the overburdened Filipino working class families. Reducing income tax rates for working families will not only improve their way of life, but also strengthen their purchasing power which will boost overall domestic demand for consumer goods,” Castro said.
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