Vice President Jejomar Binay is pushing for higher tax exemptions for workers to boost their purchasing power.
“[T]here is [a need]to revisit and streamline our existing income tax system to lower tax rates and grant higher exemptions to our workers,” the Vice President said in his Labor Day Message.
“At the same time, serious efforts must be made to stabilize the prices of basic commodities to preserve if not enhance our workers’ purchasing power,” he added.
Meanwhile, Binay said inclusive growth must happen in the country to avoid a repeat of the case of overseas Filipino worker (OFW) Mary Jane Veloso, who is on death row in Indonesia.
Also the Presidential Adviser on OFW Concerns, the Vice President added that support mechanisms for OFWs must also be strengthened, given their importance in propping up the economy.
“Mary Jane’s case also underscores the pressing need to strengthen the legal defense and other mechanisms of support for our OFWs, including protection against illegal recruitment and human trafficking, and reintegration for our returning workers,” he added.