Tax cuts should be House priority – Atienza

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The House of Representatives should first pass the bill slashing individual and corporate income taxes before debating lengthily on the measure reviving the death penalty, House senior deputy minority leader and Buhay Rep. Lito Atienza said.

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“If we want our economy to grow faster and create more jobs, we should first bring down personal income taxes from 32 percent to 25 percent, and cut corporate income taxes from 30 percent to 25 percent,” Atienza said.

“We should take the cue from the Senate, which has categorically declared that while reducing income taxes is among their main concerns, the reimposition of death sentences is not among their priorities,” he added.

He said tax cuts would put more money at the disposal of low- and middle-income families and help drive household final consumption spending, thus creating greater demand for goods and services and encouraging industries to expand capacity and increase hiring.

Atienza said lower taxes will also encourage corporate investment spending that would in turn create more jobs.
The House is set to begin this week plenary debates on the bill restoring the death penalty. The income tax measure is still being threshed out by the House ways and means committee.

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