2 in 3 Filipinos back billionaire wealth tax, survey finds

MANILA — A majority of Filipino adults support a proposed wealth tax on billionaires, with 66.3% in favor and 28.0% opposed, according to the August 2026 National Momentum Survey by Momentum Research.

The non-commissioned survey, conducted from Aug. 18-23, asked Filipinos whether they agree or disagree with the proposed wealth tax.

Another 4.6% of adults are still unsure whether a wealth tax should be imposed on billionaires, while 1.2% declined to answer (Figure 1).

The survey question, asked in Filipino, was worded as follows:

May mga panukala sa Kongreso na magpataw ng “wealth tax” o buwis sa mga taong PHP 1 bilyon pataas ang ari-arian. Sang-ayon o hindi sang-ayon ka ba sa panukalang ito?

An unofficial English translation reads: There are proposals in Congress to impose a “wealth tax,” or a levy on people with assets of PHP 1 billion and above. Do you agree or disagree with this proposal?

Figure 1. Views on the proposed Wealth Tax (National Findings)

(Momentum Research)

Momentum Research noted that many low- to middle-income Filipinos are feeling the strain of a widening wealth gap amid rising inflation rates and an increasing cost of living.

The proposed levy on the country’s richest individuals seeks to help redistribute wealth and raise more funds for government social welfare programs.

What is the Ultra-Wealth Tax Bill?

On May 18, 2026, ML Party-list Rep. Leila De Lima filed House Bill No. 9274, or the “Ultra-Wealth Tax” Act.

The bill seeks to amend the National Internal Revenue Code of 1997 by establishing an annual 1% tax for individuals with net taxable assets amounting to more than PHP 1 billion, 2% for those with PHP 2 billion, and 3% for those with PHP 3 billion or more.

If passed, proceeds shall be allocated to government programs such as education, housing, healthcare, employment, and social protection.

Those opposed to the measure warn that the tax could weaken private investments in the country.

Proponents argue that the measure would help ease the burden of rising costs on lower- and middle-income households who already shoulder value-added tax (VAT) and excise taxes.

Other lawmakers like the Makabayan bloc and Deputy Speaker Raymond Democrito Mendoza of the Trade Union Congress of the Philippines (TUCP) Party-list have also filed similar bills.

The bills, however, remain pending at the committee level.

De Lima said consumption taxes weigh heavily on the poor and the middle class, according to GMA News.

The idea is not new in the House. In September 2021, the Makabayan bloc filed House Bill No. 10253, or the Super-Rich Tax Act of 2021, which proposed the same 1% to 3% schedule for billionaires, the Philippine Daily Inquirer and BusinessWorld reported.

Then-Finance Secretary Carlos Dominguez III warned at the time that a wealth tax would drive capital out of the Philippines, according to the Philippine Star and the Inquirer.

Malacañang, for its part, noted that some European countries abandoned their wealth taxes because of complexity and low revenue, GMA News reported.

Low-income Filipinos among the strongest supporters

Based on income, roughly three out of four adults from low-income households who earn between PHP 13,873 and PHP 27,746 support a wealth tax (74.6%), while 20.7% disagree with the proposal.

Disapproval is low across income groups but is highest among adults in poor households who earn less than PHP 13,873 (31.2%), followed by 28.4% of middle-income adults who earn between PHP 27,746 and PHP 166,476 (Table 1).

Among poor households, 62.5% agree with the proposal, while 66.2% of middle-income adults agree.

Most generations support the wealth tax, while boomers are divided

The proposal has broad support across generations.

More than three out of four millennials agree with the wealth tax (76.6%), while Gen X (67.1%) and Gen Z Filipinos (61.9%) share a similar favorable opinion of the measure (Table 2).

Disagreement stands at 21.2% among millennials, 24.2% among Gen X, and 31.8% among Gen Z.

However, fewer than half of Filipinos from the baby boomer and Silent Generation cohort (49.0%) support the policy, while 42.1% disagree, an evident deviation from other generations.

Regardless of political affiliation, majority of Filipino adults support the wealth tax

The survey found that across factions, more than half of adults agree with the measure.

Pro-opposition Filipinos (69.3%) favor the policy the most, followed by pro-Duterte Filipinos (67.2%) and adults who identify as independent (66.9%).

The survey defines pro-opposition adults as Filipinos who align themselves with former Vice President Leni Robredo, Sen. Risa Hontiveros, Sen. Bam Aquino, and their allies.

However, pro-Marcos adults express less support for the proposed wealth tax, with 59.2% agreeing with the policy and 34.1% opposing the proposal (Table 3).

Disagreement stands at 29.3% among pro-opposition adults, 27.7% among pro-Duterte adults, and 26.8% among independents.

How the survey was conducted

The National Momentum Survey was carried out through face-to-face interviews with a nationally representative sample of 1,487 Filipino adults.

It has a national margin of error of ±2.5 percentage points at a 95% confidence level.

Subnational margins of error are ±6.9 percentage points for the National Capital Region, ±3.8 for the Rest of Luzon (North, South, and Central Luzon), ±5.8 for Visayas, and ±5.5 for Mindanao, all at a 95% confidence level.

The National Momentum Survey is the flagship initiative of Momentum Research, which describes itself as a nonpartisan public opinion research firm.

The August 2026 issue also covers perspectives, attitudes, and behaviors on government performance, the impeachment trial, 2028 national elections voting intentions, and national issues such as Pax Silica, systems loss, minimum wage, the Barangay and Sangguniang Kabataan Elections (BSKE), and school-related violence.