The House committee on tourism has approved a consolidated measure seeking to abolish the country’s decades-old travel tax—a move lawmakers say could ease the financial burden on Filipino travelers.

The panel, chaired by Romblon Rep. Eleandro Jesus Madrona, approved six related bills, including House Bill 7443. The Chairperson of the House Committee on Tourism has directed the committee secretariat to prepare the report and forward it to the House ways and means committee led by Marikina Rep. Miro Quimbo, as well as the appropriations panel chaired by Nueva Ecija Rep. Mikaela Suansing.

Lawmakers emphasized that the approval is subject to the creation of an alternative funding mechanism to safeguard programs currently supported by travel tax collections. The tourism panel had earlier deliberated on twelve separate bills proposing exemptions for specific sectors. According to the Panel Chair, these exemption proposals would be integrated into the consolidated measure should the abolition push through.

Representative Suansing assured stakeholders that funding safeguards would be carefully refined as the bill progresses through the legislative process.

Scrapping the travel tax could lower airfare costs and potentially generate around P22 billion in annual government revenues through increased travel activity, said Quimbo, Chairperson on Ways and Means. The House leadership is targeting approval of the proposed measure before the chamber adjourns in June.

If it pushes through, this might just be your perfect excuse to finally book that long-overdue trip, Fam!