Whipps in an interview said that the tuna or fish industry is a multibillion venture and about $200 million in profits a year by foreign entities licensed to fish in the island nation are shipped out of Palau.
Whipps were among the two out of the 13 senators who voted against proposed measure which will exempt for a period of three years the export of tuna and tuna-like species caught using the group purse seining.
A group purse seining is a fishing method utilizing a net with a series of rings at its bottom.
Palau collects an export tax of $0.35 per kilo on tuna and tuna-like species caught in its waters.
The measure will exempt fishing companies from paying the tax once approved.
Whipps said Palau is getting a small amount from a multibillion fishing industry.
He said that there also has been proposal to increase the license fees imposed on fishing vessels registered in Palau.
Currently Palau charges about $20,000 per vessel, there are an estimated 150 registered vessels.
He said the proposal is to increase it to $80,000.
