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Assessing The Potential Impacts Of The Tax Reform For Acceleration And Inclusion And The Build Build Build Program, Caesar Cororaton, Marites Tiongco, Justin S. Eloriaga
Assessing The Potential Impacts Of The Tax Reform For Acceleration And Inclusion And The Build Build Build Program, Caesar Cororaton, Marites Tiongco, Justin S. Eloriaga
Angelo King Institute for Economic and Business Studies (AKI)
The Tax Reform for Acceleration and Inclusion (TRAIN) Act has prompted key changes in the personal income tax regime through excise taxes on most goods such as petroleum, sugar-sweetened beverages, and automobiles. The TRAIN was implemented to generate funds for the Build Build Build (BBB) program and at the same time to address income inequality and poverty. This paper aims to assess the potential growth, poverty, and distributional effects of the TRAIN Package 1 and the BBB Program using a computable general equilibrium model with poverty simulation. Results suggest that TRAIN I has prompted additional revenue in social programs and …