Negros Occidental 3rd district Rep. Javier Miguel "Javi" Benitez has filed the proposed Resilient Economy and Stabilization for Crisis and Urgent Emergencies (RESCUE) Act, in response to the persisting fuel price crisis.

Benitez said the measure was designed to establish a more comprehensive and permanent system for faster, more proactive economic crisis response.

The bill was filed amid escalating global tensions affecting the Strait of Hormuz, with oil prices nearing $115 per barrel and local diesel prices already at around P130 per liter, with projections of further increases.

Benitez said that, with limited fuel reserves, the country faces mounting pressure to act before the situation worsens.

He said transport workers, fisherfolk, overseas Filipino workers (OFWs) in conflict-prone areas, and micro, small, and medium enterprises were among those most at risk from the ongoing crisis, the effects of which were expected to ripple across sectors in a systemic way and affect communities and the broader economy.

The proposed measure comes as the neophyte congressman seeks to push for a broader and more institutionalized economic response system that builds on the framework of the Bayanihan Economic Resilience Bill, which provides government with tools to address large-scale economic disruptions.

Benitez said the RESCUE Act expands this approach by ensuring that response systems, funding, and coordination mechanisms are already in place before a crisis hits, allowing for faster and more targeted intervention.

“Hindi naman tayo bumibili ng fire truck kapag nasusunog na yung bahay. Pero yan ang ginagawa natin (We don’t buy a fire truck only when the house is already burning. But that’s exactly what we’re doing)," he said.

"During COVID, we wrote two emergency laws and spent P646 billion while the crisis was already on top of us. Ngayon, P130 na ang diesel, hindi na makalabas sa dagat ang mga mangingisda, at dalawang milyong OFW ang nasa conflict zone (Now, diesel is at P130, fishermen can no longer go out to sea, and two million OFWs are in conflict zones)," he noted.

The RESCUE Act institutionalizes a whole-of-government approach to crisis preparedness, ensuring that systems are already in place before emergencies strike.

At the core of the bill is a Bayanihan Economic Stabilization Fund, with a target of at least P50 billion. It can be mobilized once a national emergency is declared, with assistance required to be deployed within 72 hours.

"Ang RESCUE Act, ayusin natin bago pa dumating ang susunod na krisis. Permanent fund na P50 billion, isang standing council, early warning system, at kapag na-declare ang emergency, 72 hours lang, dapat nakakarating na ang tulong,” Benitez emphasized.

(The RESCUE Act must be fixed before the next crisis arrives. A permanent P50 billion fund, a standing council, an early warning system, and once an emergency is declared, aid must reach people within 72 hours.)

The proposed statute also proposes the creation of a National Economic Resilience Council to coordinate response efforts, alongside a real-time Economic Early Warning System to monitor risks and enable timely intervention.

It further strengthens emergency protections, including direct cash transfers, fuel and wage subsidies, and mandatory grace periods on loans, rent, utilities, and insurance during declared national emergencies, as well as provisions to boost supply chain resilience, energy security, and strategic reserves.