Author: Hon. DAVID CASPER NATHAN A. SERGIO
Proposal: Relief for Every Worker in Naga City! Authored by Councilor Nathan Sergio, the proposed resolution is calling on the National Government to explore a major economic change: exempting private and public employees from paying individual income tax.
Why Is This Being Proposed?
- The Struggle of the Worker: Employees are the “backbone of the nation,” yet they are among the most heavily taxed, often seeing their take-home pay eaten up by inflation and the rising cost of goods.
- Fairness in the System: The Constitution mandates that taxation should be equitable and just3333. Currently, high taxes can discourage productivity and limit a family’s ability to save.
The Potential Benefits 🚀
If the National Government finds this feasible, the resolution highlights three major wins:
- More Money in Your Pocket: Increased take-home pay means higher consumer spending, which helps local businesses grow.
- Financial Security: Families would have a better chance to build savings and make long-term investments.
- Stronger Economy: Boosting domestic demand creates a more resilient and inclusive economy for everyone.
What Happens Next?
This is a formal request for the Department of Finance (DOF), NEDA, and the BIR to conduct a deep-dive study. They will look at the fiscal impact and find the best way to provide relief—whether through full exemptions or partial reductions.
Discover more from CITY OF NAGA
Subscribe to get the latest posts sent to your email.