MANILA - The Duterte adminsitration's tax reform package takes one step closer to becoming law after being passed today by the House Ways and Means Committee.

The office of Committee Vice Chairman Cong. Joey Salceda confirmed that they approved the Comprehensive Tax Reform Package, which lowers income taxes for most income earners but raises consumption taxes.

The tax package has been dubbed by the Department of Finance (DOF) as a key component of 'Dutertenomics.'

It seeks to lower personal income taxes by restructuring tax brackets and cutting the tax rate for those earning no more than P5 million to 25 percent from the current 32 percent.

It also seeks to raise corporate income tax from 32 percent to 35 percent.

Besides these, the tax package also mandates new taxes such as excise taxes on refined petroleum products, on particular automobiles, sugar sweetened beverages and carbonated drinks, as well as the restructuring of excise taxes on alcoholic drinks.

The Kabataan partylist and the ACT Teachers partylist have criticized the tax package as anti-poor because of the proposed excise taxes on fuel and the expanded value added tax (VAT) coverage.

-- with a report from RG Cruz