President William Ruto on Wednesday, June 26, declined to sign the controversial Finance Bill 2024.

"Having reflected on the conversation surrounding the bill and listening to the people of Kenyan who have said they want nothing to do with the bill. I concede and therefore I will not sign the bill. It will be subsequently withdrawn and that become our position," he stated.

He proposed that since Kenya has gotten rid of the bill, the country should have a conversation going forward on how to manage the affairs of the country together.

The Head of State explained that the bill was aimed at increasing the country's revenue adding that Kenya was burdened by debt.

He added that the revenue raised through the bill would be used to subsidize fertiliser, pay Junior Secondary Schools (JSS) teachers, the last mile connectivity, operationalise the Universal Health Coverage plan, and pay coffee and sugar cane farmers among other sectors.

This decision followed a parliamentary group meeting involving officials from the Kenya Kwanza coalition.

MPs will now need to discuss the bill including the suggestions made by the president and may either amend the bill or reject the changes before their recess begins

Per the Constitution, the President should assent the bill into law or refer it back to Parliament for reconsideration within 14 days.

When the bill is back in Parliament, the MPs may pass it for the second time, without amendment or with amendments that do not fully accommodate Ruto's reservations or suggestions. The vote must be supported by two-thirds of the House and two thirds of the delegations in the Senate if it's a bill that requires the appoval of the Senate.

If the bill is passed by the House, the appropriate speaker shall within 7 days re-submit it to the President and the Presidnt shall assent it within 7 days.

"If the President does not assent to a bill or refer it back within the period prescribed, the bill shall be taken to have been assented to an expiry of that period," reads part of the Constititution.

This move comes amid ongoing protests against the finance bill, with Kenyans calling for its complete withdrawal by the government. The protests conducted by young Kenyans have garnered international attention with some leaders calling upon the government to listen.

Additionally, these protests which began last week have resulted in the loss of 10 Kenyans, destruction of property and multiple injuries.

Kenyans had opposed the controversial bill adding that it would result in an increase in the cost of basic commodities and asked the government to seek alternative channels to collect taxes.

Furthermore, Kenyans complained that government was poorly managing the billions of taxes collected and it was therefore unreasonable to overtax majority of Kenyans who are struggling to make ends meet.