Senators oppose new oil tax

Senate Majority Leader Loren Legarda and Sen. Teresa Aquino Oreta joined colleague Ralph Recto yesterday in opposing an Arroyo administration plan to seek the imposition of an additional P1 tax on oil products.

"It’s only now that the people are getting a respite from market-dictated price increases with the lowering of world crude oil prices. We should not increase pump prices at this time by imposing an additional tax," Legarda said.

She said the collection of a new tax would cause prices of consumer products and services to go up.

For her part, Oreta said Congress "should nip the tax plan in the bud before it could inflict more woes on consumers already reeling from spiraling commodity prices along with electricity and water charges."

"Like the flawed borrowing strategy and proposals to tax cellular phones and Asian Utility Vehicles, this plan by Finance Secretary Jose Camacho seeks to pass on to hapless consumers the burden of the finance department’s dismal failure to collect enough taxes," she said. – Jess Diaz