Velasco elated by Bayanihan 3 backing
House Speaker Velasco on Tuesday thanked some 224 lawmakers who expressed support to the proposed P420-billion Bayanihan 3 stimulus package he filed with Marikina Rep. Stella Luz Quimbo to hasten economic recovery in the aftermath of the pandemic.
“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,” Velasco said.
Some 224 members from the House supermajority, minority and independent blocs have joined him either as principal authors or co-authors of the proposed Bayanihan to Arise as One Act or the Bayanihan 3 under House Bill 8628.
No less than President Duterte affirmed the merits of Bayanihan 3 when he thanked Congress for pushing the third stimulus bill.
“I thank Congress for understanding us and giving us the support, the critical support we badly need to discharge our duties,” the Chief Executive said in his public briefing last week.
The Bayanihan 3, Velasco stressed, presents the strong commitment of Congress to support the Executive Department in its recovery efforts.
“The 18th Congress, in its remaining legislative calendar, will carry out its duty to craft laws that will help our countrymen recover from this pandemic. We deemed it necessary to address all fronts in stimulating our economy back to health, and the Bayanihan 3 provides a holistic approach in addressing all our current woes,” the Marinduque lawmaker said.
Under the bill, each Filipino would receive P1,000 and an additional P1,000 allowance for teachers and students. Displaced workers, meanwhile, will be provided P8,000.
The measure further seeks to allocate P108 billion for additional social
amelioration to impacted households; P100 billion for capacity-building for impacted sectors; P52 billion for wage subsidies; P70 billion for capacity-building for agricultural producers; and P30 billion for internet allowances to teachers and student.
I thank Congress for understanding us and giving us the support, the critical support we badly need to discharge our duties.
Also included in the package are some P30 billion for assistance to displaced workers; P25 billion for Covid-19 treatment and vaccines; and P5 billion for the rehabilitation of disaster-hit areas.
“Our economy will fall further unless we provide it with much-needed intervention. Bayanihan 3 will give our economy a big boost. It will encourage spending among consumers and boost the confidence of micro, small and medium enterprises, and other businesses. The bill, coupled with other timely and precise interventions, will help us recover faster from this pandemic,” Velasco said.
Aside from Velasco and Quimbo, 11 lawmakers signed as principal authors of the bill 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; and Quezon Rep. Mark Enverga also signed as principal authors.
The bill is currently pending with the House Committee on Economic Affairs.