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Two Senators Demand Immediate Approval of Bill Imposing Automatic Suspension or Reduction of Excise Taxes on Petroleum Products
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Senate Minority Leader Alan Peter Cayetano and Senator Pia Cayetano are pushing for the immediate passage of a bill imposing an automatic suspension or reduction in excise tax on gasoline and other petroleum products. The bill was filed amid rising oil prices due to escalating tensions in the Middle East. Senate Bill 1927 amends the National Internal Revenue Code of 1997, which was first amended when the TRAIN Law was enacted.
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