Co-Sponsorship Speech of Senator Legarda | Senate Bill No. 1982 – Automatic Suspension or Reduction of Excise Tax on Fuels | March 16, 2026

Mr. President, distinguished colleagues:

I rise today to co-sponsor Senate Bill No. 1982, which expressly grants the President to suspend the imposition of fuel excise taxes in times of extraordinary circumstances.

We are now experiencing an extraordinary circumstance. There is a rapid and continuous increase in fuel prices brought about by the ongoing conflict in the Middle East. As we have seen time and again, this situation triggers a domino effect.

Kapag tumaas ang presyo ng petrolyo, bumubulusok din pataas ang presyo ng mga pangunahing bilihin at serbisyo. Sa huli, agrabyado ang mga end-consumer lalo na ang mga mahihirap.

Mr. President, this Representation also filed a similar measure, Senate Bill No. 1942, or the Fuel Price Relief Act. Like the present bill, it authorizes the President to significantly reduce or suspend excise taxes on fuel.

Through this proposed measure, there will be a swift and timely intervention to prevent an economic crisis.

Thank you, Mr. President.