Bayanihan 3 is expected to be approved by the House
Even
before the third committee in the House of Representatives could approve it,
the bill proposing a ₱420 billion stimulus package under the third sequel of
the Bayanihan Act was guaranteed to pass easily.
Speaker
Lord Allan Velasco, principal proponent of House Bill 8628 or the Bayanihan to Arise as One Act (Bayanihan
3), revealed that the measure recently approved by the House Committees on Ways
and Means and Appropriations has been co-authored by 224 members of the House.
UPDATES:
The country’s economic managers are now researching possible funding sources for Bayanihan 3, a proposal seen as a “lifeline” amid the raging pandemic that continues to cripple the economy and damage the livelihood of millions of Filipinos, according to Speaker Lord Allan Velasco.
In a
virtual meeting dated April 8, Finance Secretary Carlos Dominguez III and
Budget Secretary Wendel Avisado told Speaker Velasco that the Departments of
Finance and Budget and Management are now in the process of identifying funding
sources in order to move forward with Bayanihan 3, which is intended to hasten
the country’s economic recovery from the effects of the health crisis.
Status of the Bayanihan 3 bill: House Bill
8628 is pending before the Economic Affairs Committee at the moment.
“I want to thank my colleagues for
rising above party-lines and for always keeping Filipinos first as we unite to
provide much-needed help to households and businesses facing hardship as a
result of the COVID-19 pandemic,” Speaker Velasco said.
HB
8628 introduces a ₱420-billion stimulus package to counter the adverse effects
on the country’s economy and public health of the coronavirus disease
(COVID-19) pandemic.
For
additional social amelioration to affected families, the bill seeks to allocate
₱108 billion; ₱100 billion for capacity-building for the affected sectors; ₱52
billion for wage subsidies; P70 billion for capacity-building for agricultural
producers; ₱30 billion for internet allowances for teachers and students; ₱30
billion for relief to displaced workers; ₱25 billion for care and vaccinations
for COVID-19; and ₱5 billion for reconstruction of areas affected by recent
floods and typhoons.
Each
household member will receive ₱1,000 under the measure, irrespective of their
economic status. In addition to this, each student and teacher will receive a ₱1,000
allowance and ₱8,000 for each displaced worker.
Velasco
said that Bayanihan 3 represents Congress’ deep commitment to assist the
Executive Department in its efforts to resolve the many issues facing the
country in the midst of the pandemic at present.
Twelve
(12) lawmakers, aside from House Speaker Velasco, signed HB 8628 as the key
authors, namely: Senior Deputy Speaker Doy Leachon; Deputy Speakers Kristine
Singson-Meehan, Bernadette Herrera, Weslie Gatchalian, Mikee Romero and Eric
Martinez; Rizal Rep. Michael John Duavit; Batangas Rep. Eileen Ermita-Buhain;
Romblon Rep. Eleandro Jesus Madrona; Negros Occidental Rep. Francisco Benitez; Quezon
Rep. Mark Enverga; and Marikina City Rep. Stella Luz Quimbo.
The
allocation of ₱25 billion for COVID-19 care and vaccines is among the salient
features of Bayanihan 3, or HB 8628.
The
requirement for phase IV trials of COVID-19 medicines and vaccines laid down in
the Universal Health Care Law is waived under Section 4 of the Bill to speed up
the procurement of such medicines and vaccines, provided that the World Health
Organization and other globally recognised health agencies recommend and
authorize them.
The
bill also makes, unless otherwise ordered by the President, an advance payment
not exceeding 50 per cent of the contract sum for the procurement of COVID-19
medicines and vaccines.