SB 1940

Senate·20th Congress·Filed Mar 9, 2026

Suspension or Reduction of Excise Taxes on Petroleum Products

An Act Authorizing the President to Suspend or Reduce Excise Taxes on Petroleum Products During National or Global Economic Emergencies, Amending for the Purpose Section 148 of the National Internal Revenue Code of 1997, as Amended

In plain language

The bill would let the President temporarily suspend or lower fuel taxes when oil prices rise sharply during a national or global economic crisis.

TaxationEnergyPublic Works and Infrastructure

Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.

Author · Senator

Francis "Kiko" N. PangilinanReceipts →

Official sources

Similar in what they’d do, filed by any lawmaker.

HB 8359· Filed Mar 9, 2026
An Act Granting the President Limited Authority to Temporarily Suspend or Reduce Excise Taxes on Petroleum Products During National or Global Emergencies, Amending for the Purpose Section 148 of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 10963 (Train Law)
Pending with the Committee on WAYS AND MEANS since 2026-03-11Rep. Julienne "Jam" L. Baronda
HB 8348· Filed Mar 9, 2026
An Act Authorizing the President to Temporarily Suspend or Reduce Excise Taxes on Petroleum Products During Extraordinary Global Oil Price Shocks, Providing a Fuel Price Stabilization Mechanism, and for Other Purposes
Pending with the Committee on WAYS AND MEANS since 2026-03-11Rep. Eric L. Olivarez
SB 2045· Filed Apr 15, 2026
Granting the President the Power to Lower the Rate of Value-Added Tax on Petroleum Products
Pending in the committeeSen. Imee R. Marcos
HB 8560· Filed Mar 16, 2026
An Act Authorizing the President, Under Clear and Limited Conditions, to Temporarily Reduce or Suspend the Imposition of Excise Taxes on Certain Petroleum Products During Extraordinary Global Oil Prices Shocks, Providing Safeguards and Congressional Oversight, and for Other Purposes
Pending with the Committee on WAYS AND MEANS since 2026-03-18Rep. Christopherson "Coco" M. Yap
HB 8838· Filed Apr 13, 2026
An Act Temporarily Suspending or Reducing the Imposition of Value-Added Tax (VAT) on Petroleum Products, Amending for the Purpose the National Internal Revenue Code of 1997, as Amended, and for Other Purposes
Pending with the Committee on WAYS AND MEANS since 2026-05-04Rep. Leandro Legarda Leviste

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SBN-1940 · Sources: BatasWatch