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No new laws without corresponding measures to generate revenues By Charlie V. Manalo 08/31/2010

Tuesday, August 31, 2010

No new laws without corresponding measures to generate revenues
By Charlie V. Manalo
08/31/2010

A ranking House leader said yesterday no new laws increasing public expenditure should be passed without a corresponding revenue-generating or cost-offsetting measure.

Batangas Rep. Hermilando Mandanas, author of House Resolution 302, said any management spending or tax legislation that increases the deficit or reduces revenues must be accompanied by a countervailing measure that offsets the increase in deficit or reduction in revenue.

“In order to lessen the country’s ballooning deficit, it is necessary to instill fiscal discipline in the public sector,” said Mandanas, chairman of the House committee on ways and means.

Mandanas called on both executive and legislative branches of the government to adopt deficit-neutral rules to instill fiscal discipline for a more responsible financial management and promote sustainable economic growth.
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SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20100831nat7.html

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