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{
    "id": 1511307,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1511307/?format=api",
    "text_counter": 383,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": "Ksh100,000, you have about Ksh3,000 back to your pocket. This is putting money back into people's pockets. Hon. Temporary Speaker, these are some of the good things that we told Kenyans that were lost to the Finance Bill, 2024 because there were gains that were putting back money back into the people's pockets. Of course when Kenyans told us to reject the Finance Bill, we rejected everything but, we know better on what is good for Kenyans. We know Kenyans deserve some money back out of what they are paying in taxes in contributions to SHIF, the housing fund so as to create employment and post-retirement medical schemes. All these are now tax- deductible. I mention here that those tax-deductible deductions are up to Ksh20,000 a month so that we encourage people to save in post-retirement medical schemes to pre-empt the culture of dependency. The reason many people, including former Members of Parliament, resort to the cash transfer programme when they reach the age of 65 to 70 is because they had not saved for post- retirement medical cover. They find themselves elderly and sickly but no private insurance company can provide them with a medical cover. And because they had not saved for a post- retirement medical scheme, they are left destitute and thus sell their hard-earned properties to take care of their medical bills at an old age. We are now encouraging people to save through these deductions that are tax-deductible, of course, putting more money into people’s pockets. I encourage all of us to support this progressive Bill that speaks to the tax policies of our country that are now trying to create equity and fairness to ensure that everybody in this country who is earning an income becomes a contributor to our tax revenues so that we do not overburden a few people at the expense of raising revenues for our country. With those many remarks, Hon. Temporary Speaker, I beg to second."
}