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 just. 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.
- Enacted (Ordinance-Final Reading)/Adopted (Resolution)