Philippine President Ferdinand Marcos Jr. delivered his fifth state of the nation address on Monday, July 27, 2026, at the House of Representatives in Quezon City, Metro Manila. During the speech, he proposed raising the income tax threshold by 40%, a move intended to stimulate growth in the Philippine economy.

The president also emphasized the need to eliminate certain financial burdens on small businesses. This initiative comes as the Philippine economy continues to face significant challenges, being among the worst affected by the ongoing global energy crisis.

These proposed tax exemptions aim to provide relief to taxpayers and support economic recovery efforts.

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