A proposed measure in the House of Representatives seeks to impose a wealth tax on the country’s richest individuals, aiming to generate additional funds for government aid and public services.

The proposal, filed as House Bill 4304, or the “Solidarity Contribution Act," by Akbayan Party-list Representative Perci Cendaña, targets the top 15 wealthiest Filipinos based on their total net worth. If enacted, the measure is projected to raise around ₱78 billion in revenues, according to estimates cited in the bill.

Cendaña said the initiative comes amid rising prices of basic goods and services, stressing the need for collective responsibility during times of economic hardship.

He emphasized that both the rich and the poor share a duty to contribute to national recovery efforts, particularly in addressing the needs of vulnerable sectors.

Among those listed in the 2026 Forbes ranking of the country’s richest are Enrique Razon, Ramon Ang, Lucio Tan, Manny Villar, and brothers Henry Sy and Hans Sy. The proposed wealth tax is envisioned as a revenue-generating mechanism to support government programs, including financial assistance and essential public services.