LIVE: Senate Committee on Ways and Means holds hearing | June 4, 2025

Inilalatag at sinusuri na sa Senado ang mga panukala na itaas ang income tax exemption baseline ng mga manggagawang Pilipino na nauna nang itinakda sa P250,000 noon pang 2018. Pinapaburan ng Senate committee, Department of Labor and Employment (DOLE), at Bureau of Internal Revenue (BIR) ang planong repormang ito base na rin sa mabilis na pag-arangkada ng inflation na nararamdaman ng bansa hanggang taong 2026. Kinalampag rin ng labor groups katulad ng Nagkaisa Labor Coalition (NAGKAISA) at ng Federation of Free Workers (FFW) na sana buwisan rin ang yaman (Wealth Tax) ng nasa top 1% population. Pinasadahan rin ng komite sa pagdinig kung gaano kalaki ang maidagdag sa ipon at take-home pay ng pangkaraniwang tax payer at pamamasyong inisyatibang gawin itong batas kaysa hintayin pang ma-index ito ayon sa patuloy na epekto ng nagmamahal na gastusin as of March 2026 computed living parameters from independent groups like the IBON Foundation. Chapters: 0:00:00 - Nagkaisa Labor Coalition proposes 'Wealth Tax' on Top 1% 0:01:05 - Sen. Loren Legarda reviews P250,000 tax-exempt baseline from 2018 0:04:18 - DOLE shares Metro Manila's current minimum wage closing in on the threshold limit 0:07:25 - BIR waits on Dept of Finance regarding the tax adjustment impact 0:11:55 - Labor reps emphasize P1,200 standard daily living wage calculation by IBON Foundation 0:13:40 - Current base vs adjusted rates if minimum reaches P360,000 to P480,000 limit 0:16:44 - Sen. Chairperson inquires for specific sample deductions/tax relief amounts 0:19:59 - The 'Maria Scenario' - How workers would save thousands under adjusted metrics 0:22:42 - Sen. Legarda proposes inclusion of automatic tax rate indexing system in bills 0:24:23 - The Chairperson explains confusion, delays, and clarity behind Senate positions and operations Subscribe to the ABS-CBN News channel! - https://www.youtube.com/@abscbnnews Watch full episodes on iWant for FREE here: http://iwanttfc.com Visit our website at http://news.abs-cbn.com Facebook: https://www.facebook.com/abscbnNEWS TikTok: https://www.tiktok.com/@abscbnnews Twitter: https://twitter.com/abscbnnews Instagram: https://www.instagram.com/abscbnnews #ABS-CBNNews #NewsDigital #LatestNews #philippinenews #TaxExemption #SenadoNews #IncomeTaxPhilippines #TRAINLawUpdates #WageHike #PhilippineSenate #LaborRights #EconomyNews