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CARS and RACE auto incentive programs cut from Philippine 2026 national budget
Reported on January 6, 2026, the Philippine government has withdrawn financial support for local automotive manufacturing after President Ferdinand Marcos Jr. vetoed funding for both the CARS program and its replacement, RACE, in the 2026 national budget.
The move removes billions of pesos in planned incentives, wit....
The move removes billions of pesos in planned incentives, wit....
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