President Aquino amenable to P40-billion sin tax revenue

VIENTIANE, Lao People’s Democratic Republic, Nov. 6 (PNA/via PLDT/Smart) -– President Benigno S. Aquino III said on Monday that he is amenable to the lowering of the revenues to be generated by the Sin Tax measure at P40 billion but would be “happier” if it remained at the proposed P60-billion mark.

The President said that although the proposed original amount had been downsized, his government could still use the new amount to manage the deficit and fund healthcare programs.

“Mabuti sana kung 60 magagamit ng healthcare programs. For 40, I think, is also a good number,” the President said.

“At 40, we’re happy. At 60, we’ll be happier. For 40 is already, I think, sufficient to meet the objectives both in terms of gaining more resources, managing the deficit but most importantly addressing the health issues. Most of the funds that will be generated are earmarked for supporting our health program,” he added.

The money to be collected from sin taxes will be spent in building more health facilities, rural health units, district hospitals, and other facilities and will also be used for premiums for the expanded coverage of PhilHealth, the State’s healthcare insurance program. (PNA)

 

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