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The Department of Finance (DoF) categorically refuted reports alleging the imposition of new taxes and stressed that there is no need for additional revenue measures at this time, given the government’s robust fiscal position.

Finance Secretary Ralph G. Recto on Tuesday said that the government is properly managing its finances, ensuring that public needs are met without burdening the citizenry with new taxes.

The Finance Chief explained that as the government’s chief steward of fiscal discipline, the DoF upholds the vital responsibility of securing ample resources to safeguard the economy, especially in times of crisis.

“Strategic measures were prepared to ensure fiscal sustainability and provide necessary buffers amid rising global economic uncertainty due to political tensions, prolonged higher interest rates, and unpredictable trade policies. But given our current strong fiscal performance, these are not needed at this time,” he said.

Secretary Recto particularly highlighted the strong double-digit growth of tax collections in the first quarter of the year, which reaffirms the country’s fiscal stability.

For the first quarter of 2025, total tax collections increased by 13.55% to P931.5 billion. Of which, the Bureau of Internal Revenue (BIR) posted P690.4 billion in collections, 16.67% higher than the same period last year. Similarly, BoC’s collections grew by 5.72%, reaching PHP 231.4 billion.

This was primarily due to both revenue agencies’ continued success in strengthening tax administration, digitalization, and enforcement efforts.

“At this point, current revenues are more than sufficient to support our expenditure requirements. We are meeting our obligations, funding key programs, and growing the economy without having to impose new taxes on our kababayan,” he stressed.

“We are also decisively managing our deficit level, while maintaining a sustainable debt trajectory aligned with our Medium-Term Fiscal Framework (MTFF),” he added.

To sustain this momentum, the DoF is committed to ensuring the successful implementation of critical measures that would retain and attract more investments as well as generate more revenues for the government, such as the CREATE MORE Act; the Ease of Paying Taxes (EOPT) Act; the amendments to the Foreign Investment Act, the Retail Trade Liberalization Act, and the Public Service Act; and the Public-Private Partnership (PPP) Code, among other measures.

At the same time, the DoF will continue to explore and strengthen non-tax revenue sources to meet the revenue targets set out in the Budget of Expenditures and Sources of Financing (BESF).

Meanwhile, the Cabinet secretary cautioned the public against disinformation, particularly with the national elections less than three weeks away.

“Disinformation tends to proliferate during the elections, especially online. With regard to fiscal policy such as taxes, we encourage the public to be more discerning, to verify information on social media, and to rely on statements from official government channels.”

Mr. Recto assured the public that fiscal policies adopted in recent years have strengthened the economy and that the government remains committed to balancing growth and stability without levying new taxes.

 


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Researchers at the University of Minnesota say they’re planning to plant more crops that can be converted to airplane fuel.

Minnesota Pollution Control Agency officials gathered next to a field of bright-green pennycress at the University’s St. Paul campus to announce $75,000 in state funding for the U of M’s research into sustainable aviation fuel — and celebrate Earth Day. 

MPCA Commissioner Katrina Kessler said sustainable aviation fuel is a way to cut down on emissions from transportation — Minnesota’s biggest source of pollution. 

“Aviation is a sector that is really hard to decarbonize, but today we have a clear opportunity to lead,” Kessler said. 

The funding is part of the state’s push to scale up sustainable aviation fuel, or SAF. Instead of fossil fuels, it’s made from crops like soybeans, corn, camelina and pennycress. It’s blended with typical fuel, and can run in commercial planes without any modifications. 

Researchers say SAF emits less greenhouse gases — up to 70 percent less than standard jet fuel. It’s caught the attention of the aviation industry, as airlines aim to cut emissions without cutting service. Delta is part of a Minnesota partnership with a goal of getting 100 million gallons of sustainable aviation fuel to Minneapolis-St. Paul International Airport by 2030.

To get there, researchers say they’ll need to plant a lot more crops. 

A field of crops.

A field of pennycress – a winter-hardy crop that can be converted to aviation fuel – at the University of Minnesota on Tuesday.

Estelle Timar-Wilcox | MPR News

The new funding from MPCA will support a study aimed at planting one million acres of camelina across the region.

Mitch Hunter is the co-director of the U’s Forever Green Initiative, which is leading the effort to step up production of winter-hardy crops, like camelina and pennycress. Hunter said at this point in the spring, there are 17 million acres of cropland in Minnesota with nothing growing on them. Winter crops could fill that space, keep soil healthy and prevent erosion, and they have ready buyers in the airline industry. 

But he said it’s a challenge to quickly get seeds to farmers, grow the crops and produce SAF — all steps that still need to be built in the budding industry.

“We, in some sense, need to solve all of those at the same time so that we can lift the whole supply chain at once,” Hunter said. 

Hunter said this project will build a “road map” for getting more crops in the ground. 

The $75,000 from the MPCA is topping off other funding, including $10 million from the U.S. Department of Energy. But Hunter said the federal government is reassessing that award as it makes sweeping cuts. 

Kessler said that federal uncertainty makes the state funding all the more important.

“We can’t control what’s happening in DC and at the federal level, but I know that we are all doing as much as we can to make sure that we underscore the needs here, and that we can take care of the economy and the environment within Minnesota,” Kessler said.



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