Recto Lauds Pres. Aquino for Signing 13th Month Pay Tax Exemption

(PNA) — Senator Ralph Recto on Wednesday thanked President Benigno S. Aquino III for signing on Thursday the bill adjusting the ceiling of the 13th month pay and other benefits excluded from the computation of gross income tax, from Php30,000 to Php82,000.

“The law is meant to provide economic relief to workers both private and public, whose purchasing power has been substantially eroded due to inflation because RA 7883, which is the original law granting the benefit, took effect 20 years ago and has never been adjusted,” said Recto, principal author of the measure.

“The measure will increase the disposable income of workers which will not only allow them to celebrate a merrier Christmas but also pay for tuition, medical attention and other basic necessities. This supports a stronger, hardworking and productive middle class who are the country’s engine of growth,” he added.

Recto said he also looking forward to working with the executive in crafting other priority bills that will bring relief to workers in business and government.

“The passage of the law means that the government is concerned with the people’s welfare and is one with their aspirations for a better life,” Recto added. (PNA) LAM /JFM