Getting an assurance that funds will be available , the House Committee on Appropriations unanimously approved on Friday, May 21, the P405.6 billion Bayanihan 3, thus, bolstering the chamber leadership’s bid to have the measure passed before the sine die adjournment of Congress.
The Committee on Economic Affairs is expected to endorse the measure on Monday morning to set the stage for plenary debates in the afternoon session.
With over a majority of House members signing up as co-author of House Bill 8628, the consolidated measure that seeks to grant P2,000 for each Filipino could breeze through a unanimous plenary approval in time for the sine die adjournment on June 4.
During the appropriations committee deliberation presided over by Davao De Oro 2nd District Rep. Ruwel Peter Gonzaga, Bureau of Treasury Director Dominick Mariano said the agency is ready to certify that funds are available to finance the implementation of the measure.
Under the third Bayanihan bill, currently entitled as Bayanihan to Arise as One Act, the economic stimulus package proposes the distribution fo direct emergency and social amelioration fund to all Filipinos. The poor will receive additional financial support.
A consolidation of numerous legislative proposals, the Bayanihan 3 proposes cash assistance under the Assistance to Individuals in Crisis Situation, offer subsidy to micro, small and medium enterprises; and provide temporary employment to displaced workers, among other forms of help aimed at cushioning the impact of the COVID 19 crisis.
Mariano said the BTr is ready to issue a certification after finding excess revenues and new revenue sources.
"We are ready to certify the availability of funds, specially as pertains to excess revenues. Although, we should also note that we are in the middle of financing the budgetary requirements of this year. Given that we are still looking to revenue performance compare to the disbursement schedule we have for the year," said Mariano.
A certification of available funds from the Bureau of Treasury is a constitutional requirement.
Under Section 25 (4) of the 1987 Constitution, a special appropriations bill shall specify the purpose for which it is intended, and shall be supported by funds actually available as certified by the National Treasurer, or to be raised by a corresponding revenue proposed therein.
" we can only certify if there's any excess revenues or if there is corresponding new revenue sources. We are also looking at the fiscal sustainability of the measure and we are maintaining a certain threshold of the deficit and not incurting any or further adding to our debt burden," Mariano explained.
Albay Rep. Joey Sarte Salceda, chairman of the House Committee on Ways and Means, defended the measure as constitutional.
In his remarks, Salceda said that “Bayanihan 3 already meets the constitutional requirement that the proposal be supported by funds to be raised by revenue proposed in the same bill.” “We are introducing, for the first time in Philippine policy if enacted, the concept of Universal Basic Income. P1,000 per Filipino, no ifs or buts. It avoids politicization. The rich can freely return it if they want; after all, there are very few rich people in this country. Almost everybody is hurting,” Salceda stressed.