Robredo backs House-approved P1.3 trillion stimulus bill

ABS-CBN News

MANILA - Vice President Leni Robredo on Wednesday called for the passage of a P1.3-trillion spending bill meant to stimulate the economy following disruptions caused by the COVID-19 pandemic. In a public address posted online 2 days after President Rodrigo Duterte’s State of the Nation Address, Robredo outlined several measures which she said the government needs to do to check the spread of the novel coronavirus as well as minimize the impact of quarantine measures on the economy.Robredo specifically mentioned the Accelerated Recovery and Investments Stimulus for the Economy of the Philippines <a href="https://news.abs-cbn.com/business/06/04/20/house-approves-p13-trillion-stimulus-package-arise">(ARISE) bill</a>, which had already been approved by the House of Representatives on final reading last June. “Malinaw na mas nakatuon sa pinakanangangailangan ang ARISE; mas inclusive ito, at mas pro-poor. Gamitin sana ang puwersa ng mayorya upang ipasa ang batas sa lalong madaling panahon,” Robredo said. (It’s clear that ARISE is focused on the most needy; it is more inclusive and pro-poor. The majority should use their power to pass it into law as soon as possible.)The ARISE bill provides for wage subsidies, cash aid and training for displaced workers, educational subsidy for students, as well as aid for small and medium enterprises, among others. Robredo said the proposed <a href="https://news.abs-cbn.com/business/07/27/20/duterte-calls-on-lawmakers-to-fast-track-passage-of-corporate-tax-reform-bill">corporate tax reform</a> package, which Duterte called on lawmakers to pass during his 5th SONA, was not enough. The Vice President also called for tax incentives for companies that provide aid to those affected by the pandemic. “Mabisang paraan ito para mailahok ang pribadong sektor sa pambansang pagbabayanihan.”(This is an effective way to get the private sector to participate in the national endeavor.)She also called on all government agencies to patronize local businesses and locally made products, expecially micro, small and medium enterprises. Finance Secretary Carlos Dominguez, however, has thumbed down ARISE, saying the government does not have the funds for it and that it could only spare P140 billion. Lawmakers instead passed the Bayanihan to Recover as One bill (<a href="https://news.abs-cbn.com/news/07/28/20/senate-oks-bayanihan-2-bill-on-final-reading">Bayanihan 2</a>) which lets the President realign funds for the COVID-19 crisis. Senator Ralph Recto earlier noted that the bill holds a limited amount to counter the pandemic after the executive branch &quot;put a lid on how much we can appropriate.&quot;Senate Majority Leader Juan Miguel Zubiri, meanwhile, said funding for the implementation of the law should be <a href="https://news.abs-cbn.com/news/07/29/20/zubiri-wants-p500-billion-budget-for-bayanihan-2">raised to P500 billion</a>.The Philippines has incurred over P9 trillion in debt as it grappled with the COVID-19 pandemic, which has caused the economy to contract and left at least 7.3 million jobless with lockdowns shuttering businesses and suspending public transport. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/29/20/philippine-debt-breaches-p9-trillion-in-june-as-govt-borrowings-rise-due-to-virus-response">Philippine debt breaches P9 trillion in June as gov’t borrowings rise due to virus response</a></li></ul>

MANILA - Vice President Leni Robredo on Wednesday called for the passage of a P1.3-trillion spending bill meant to stimulate the economy following disruptions caused by the COVID-19 pandemic.

MANILA - Vice President Leni Robredo on Wednesday called for the passage of a P1.3-trillion spending bill meant to stimulate the economy following disruptions caused by the COVID-19 pandemic.

Robredo backs House-approved P1.3 trillion stimulus bill | ABS-CBN

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Robredo backs House-approved P1.3 trillion stimulus bill

Robredo backs House-approved P1.3 trillion stimulus bill

ABS-CBN News

Published Jul 29, 2020 07:22 PM PHT

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Vice President

Leni Robredo

stimulus spending

economy

ARISE bill

CREATE bill

Duterte 5th SONA

Bayanihan 2

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