Oh calls on private sector to support BPT reduction override on Sept. 29
BY SKYLER OBISPO
Journal Staff
Guam Chamber of Commerce chairman, Tae Oh, spoke to the Chamber’s membership on Sept. 23, again rallying support for the reduction of the Business Privilege Tax in the proposed Government of Guam Fiscal Year 2026 budget bill.
Leon Guerrero argued that the reduction in the BPT is a tax giveaway for “the favored few” and more needs to be allocated to address the needs of the Guam Memorial Hospital.
“Rolling the BPT back toward 4% is not a giveaway,” Oh said. “It is a long overdue relief that helps stabilize prices, keeps doors open, and preserve jobs across our island.”
Tae Oh, chairman of the Guam Chamber of Commerce spoke at its membership meeting on Sept. 23. Photo by Skyler Obispo
Since the BPT increase in 2018, no funds were set aside to support the Guam Memorial hospital, according to the chairman.
He said that GMH is being used as a political tool, noting that roughly $10 million in American Rescue Plan act funds were “effectively lost” due to reprogramming disputes and that the Guam Department Education is facing federal funding shortages.
“When [the] government fails to prioritize, the public pays twice,” he said. “Once at the register, and again through broken services.”
The chairman called on the Chamber membership to show support for veto override in the upcoming session of the 38th Guam Legislature on Sept. 29.
Lawmakers will need 10 votes to override the veto and prevent a government shutdown on Oct.1.
The Republican majority will need at least one Democrat vote to override or rework the budget again. mbj
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