MANILA, March 17 (Reuters): Philippine President Ferdinand Marcos Jr is poised to secure emergency powers to suspend or reduce fuel excise taxes after the Senate on Tuesday approved its version of the measure, following similar action by the lower house.
* There are several differences between the House and Senate versions, including the conditions under which the emergency powers may be invoked.
* Both chambers allow the president to suspend or reduce fuel excise taxes if Dubai crude reaches or exceeds $80 per barrel for a month.
* The House version adds another trigger, and that is when the president declares a state of emergency or calamity that leads to extraordinary increases in domestic fuel prices.
* The Senate version also limits the suspension or reduction to three months, compared with six months under the House bill.
(Reporting by Mikhail Flores; Editing by Martin Petty) - Reuters
