President Ferdinand Marcos Jr vetoed a bill exempting from income taxation honoraria, allowances and financial benefits of persons serving during election period.

Press Secretary Trixie Criz-Angeles, citing an explanation, said the measure '' runs counter to the objective of the government's Comprehensive Tax Reform Program to correct the inequity in the country’s tax system and negate the progressivity of the reforms introduced under RA 10963 or the TRAIN law. ''

''Moreover, the studies of pertinent government agencies on the revenue loss is too substantial an impact to be foregone,” said Angeles.

The vetoed measure was House Bill No. 9652/Senate Bill No. 2520 entitled ''An Act Exempting from Income Taxation the honoraria, allowances and other financial benefits of persons rendering service during an election period.''

He also vetoed House Bill No. 9030/Senate Bill No. 1077 entitled, “An Act establishing the Philippine Transportation Safety Board, defining its powers and functions, and appropriating funds therefor.''

Cruz-Angeles said the functions intended for the safety board ''are already being undertaken by different agencies under the DOTr( Department of Transportation) as well as the Philippine National Police and the National Bureau of Investigation.''

''Creating a new body will only 'create functional duplication, confusion as to authority, ineffectiveness, and deficiency in the performance of the responsibilities''' said Cruz-Angeles.

Marcos has vetoed a total of five bills from the 18th Congress since he assumed office on June 30.

The other vetoed bills are those which created the Bulacan Airport City Special Economic Zone and Freeport; strengthening the Office of the Government Corporate Counsel; and expanded the franchise of the Davao Light and Power Company. DMS