Solon bats for special session to tackle stimulus package
Published Jun 10, 2020 12:00 am
By Ellson Quismorio
A House leader is prodding the Palace to call for a special session of Congress in order to pave the way for the enactment of the P1.3-trillion economic stimulus bill being proposed by the Lower Chamber.
Cagayan de Oro Rep. Rufus Rodriguez (Rep. Rufus Rodriguez Wikipedia / MANILA BULLETIN)
“Time is of the essence. We should approve this stimulus package to help various sectors crippled by the COVID-19 pandemic," said Cagayan de Oro City 2nd district Rep. Rufus Rodriguez, chairman of the House Committee on Constitutional Amendments.
"If we wait until August or September after we convene for our second regular session in late July, we will have wasted precious time,” he said.
Unless the President calls for a special session, the lawmakers are not scheduled to reconvene until late July, or on the day of the State of the Nation Address (SONA).
The proposed economic stimulus package is contained in the Accelerated Recovery and Investments Stimulus for the Economy (ARISE) Bill, which the House passed on third and final reading last week before the adjournment of sessions. It needs a counterpart measure in the Senate if it is to be enacted.
However, senators are pushing for the P140-billion Bayanihan to Recover as One Act, which they managed to pass on second reading. They elected to not further act on the measure after Malacañang did not certify it as urgent.
Rodriguez said the different sectors affected by the pandemic have to be assisted as soon as possible so they could start to recover.
“Financial aid should be available as the economy begins to gain momentum with the easing of quarantine restrictions in many areas of the country,” he said.
Rodriguez pointed out that the Constitution authorizes the President to call lawmakers to a special session “at any time during a recess.”
Rodriguez, one of the authors of ARISE, said the draft law seeks to allocate P568 billion for 2020. This includes P110 billion for wage subsidies and P30 billion for cash for work, both for returning overseas Filipino workers (OFWs) and domestic displaced workers; and P50 billion for micro, small, and medium enterprises (MSMEs) for loans from the Small Business Corporation.
Meanwhile, another P650 billion would be allocated for President Duterte’s enhanced Build, Build, Build infrastructure program for 2021, he said.
Members of the administration’s economic team have described the P1.3-trillion stimulus package proposal as “un-fundable,” as there is neither excess revenues or new revenue sources for it. The same position was echoed by some senators as well.
But the stimulus proponents have suggested that the country can use its savings from the 2018 and 2019 national budget, amounts coming from discontinued projects in 2019 and 2020 budget, amount from the special fund, and from borrowings from multilateral financial institutions, international and domestic banks, and the issuance of the economic stimulus bonds, to fund it.
Cagayan de Oro Rep. Rufus Rodriguez (Rep. Rufus Rodriguez Wikipedia / MANILA BULLETIN)
“Time is of the essence. We should approve this stimulus package to help various sectors crippled by the COVID-19 pandemic," said Cagayan de Oro City 2nd district Rep. Rufus Rodriguez, chairman of the House Committee on Constitutional Amendments.
"If we wait until August or September after we convene for our second regular session in late July, we will have wasted precious time,” he said.
Unless the President calls for a special session, the lawmakers are not scheduled to reconvene until late July, or on the day of the State of the Nation Address (SONA).
The proposed economic stimulus package is contained in the Accelerated Recovery and Investments Stimulus for the Economy (ARISE) Bill, which the House passed on third and final reading last week before the adjournment of sessions. It needs a counterpart measure in the Senate if it is to be enacted.
However, senators are pushing for the P140-billion Bayanihan to Recover as One Act, which they managed to pass on second reading. They elected to not further act on the measure after Malacañang did not certify it as urgent.
Rodriguez said the different sectors affected by the pandemic have to be assisted as soon as possible so they could start to recover.
“Financial aid should be available as the economy begins to gain momentum with the easing of quarantine restrictions in many areas of the country,” he said.
Rodriguez pointed out that the Constitution authorizes the President to call lawmakers to a special session “at any time during a recess.”
Rodriguez, one of the authors of ARISE, said the draft law seeks to allocate P568 billion for 2020. This includes P110 billion for wage subsidies and P30 billion for cash for work, both for returning overseas Filipino workers (OFWs) and domestic displaced workers; and P50 billion for micro, small, and medium enterprises (MSMEs) for loans from the Small Business Corporation.
Meanwhile, another P650 billion would be allocated for President Duterte’s enhanced Build, Build, Build infrastructure program for 2021, he said.
Members of the administration’s economic team have described the P1.3-trillion stimulus package proposal as “un-fundable,” as there is neither excess revenues or new revenue sources for it. The same position was echoed by some senators as well.
But the stimulus proponents have suggested that the country can use its savings from the 2018 and 2019 national budget, amounts coming from discontinued projects in 2019 and 2020 budget, amount from the special fund, and from borrowings from multilateral financial institutions, international and domestic banks, and the issuance of the economic stimulus bonds, to fund it.