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House assures Bayanihan 3 funding

A ranking House of Representatives official on Wednesday assured that the dialogue with the Department of Finance (DoF) continues to determine the funding sources for the proposed third Bayanihan 3.

The Chamber needs to secure a Certificate of Availability of Funds (CAF) from the Bureau of Treasury (BTr) to be able to roll out the new assistance measure to support Filipinos affected by the Covid-19 pandemic.

AAMBIS-OWA Party-list Rep. Sharon Garin guaranteed that the proposed stimulus package, which seeks to provide P2,000 to all Filipinos, will be approved by the House plenary next week regardless of a CAF.

“The communication is regular. It is just that we’re not done yet,” Garin, who heads the House committee on economic affairs, said.

BTR Director Robert Dominick Mariano earlier told the lawmakers that the agency can certify the funds for Bayanihan 3 bill only if there are “excess revenues.”

Last Tuesday night, the House approved on second reading the proposed P401-billion Bayanihan to Arise as One Act, which is now authored by almost 300 lawmakers.

“There is a rush to finish this because the people need it,” she said.

“This is the first time I’ve seen that one bill has two pages of authors, I think 297 or 298. That’s 99 percent of the members of the House. That’s a huge statement from the House of Representatives. We want Bayanihan 3,” she added.

Garin, moreover, said the House economic cluster continues its firm resolve to help the country recover from the pandemic.

“We’ve always been consistent that we need to address the contraction. How do we recover from Covid?” she stated.

Garin cited the economic measures passed by the House, such as the CREATE bill, the amendments to Public Service Act and the Retail Trade Liberalization Act, which are most vital in the country’s road to recovery.

“It will help us many suffered a financial loss. We need more investors. We are trying to push for more investments, not only Filipino but also foreign investments,” the party-list solon said.

“We really need Bayanihan 3 because when the government spends, the multiplier effect from that is really significant. It will ease the contraction,” Garin said.

She also addressed concerns that the Bayanihan 3 is not included in the priority measures of the Legislative-Executive Development Advisory Council or LEDAC.

“We have been meeting with the Executive consistently about Bayanihan 3. I don’t think it’s not that they don’t want it, it’s just that we have to arrive with the right programs that we want to be implemented,” she pointed out.

Garin said under the measure, all Filipinos will be given P2,000 equally regardless of how big or small the family to which a person belongs.

Under the bill, on top of the P2,000, a Filipino will receive another cash assistance if one is a displaced worker or a small business owner affected by the community quarantine, among others.

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Credit belongs to : www.tribune.net.ph

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