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The bill granting President Marcos the authority to temporarily suspend or reduce excise tax on fuel products--easily the most sought-after measure in Congress in light of the raging conflict in the Middle East--was approved on second reading on Wednesday night, March 11. (Video courtesy of House of Representatives)

READ: https://mb.com.ph/2026/03/11/house-approves-fuel-excise-tax-suspension-bill-on-2nd-reading-waits-for-palace-certification

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Transcript
00:00Under the calendar of business for the day, I move to consider House Bill No. 8418, as contained in the
00:07Committee Report No. 147, submitted by the Committee on Ways and Means.
00:12And for this purpose, my request that the Secretary-General be directed to read the title of the bill.
00:16Is there any objection?
00:18The Chair and the Secretary-General is directed to read the title of House Bill No. 8418.
00:27House Bill No. 8418, an act authorizing the President of the Philippines to suspend or reduce the excise taxes on
00:34petroleum products during national or global economic emergencies, amending for the purpose of the National Internal Revenue Code of 1997,
00:42as amended.
00:44Madam Speaker, I move to vote on second reading, House Bill No. 8418.
00:50Those who are in favor, say aye.
00:52Aye.
00:53Those who are against, say nay.
00:55The I-7th, House Bill 8418 is approved on second reading.
01:00Congratulations.
01:03Congratulations.
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