Support for BBM stimulus package snowballs

More and more administration lawmakers from the House of Representatives have expressed support for the proposed Bayan Bangon Muli stimulus package of presidentelect Ferdinand “Bongbong” Marcos Jr. that will be given to the poorest of the poor.

Deputy Speaker Isidro Ungab of Davao City was the latest to join Reps. Joey Salceda of Albay and Alfred Vargas of Quezon City to the call of incoming speaker Martin Romualdez for budgetary support for the proposal.

“The newly elected president knows that a lot of work needs to be done and the challenges are rife, so deciding to work closely with Congress is the right step toward accomplishing his goals and targets for our economy to recover,” Ungab said.

“(President-elect) Marcos is right when he said that he looks forward to the new budget for 2023 to already include his priority programs and projects, among which is the proposed stimulus fund,” the former House appropriations committee chairman added.

Marcos’ expected allies in the House, which comprise the supermajority of about 278 House members led by Romualdez, now outgoing majority leader, are preparing a stimulus program as his administration’s COVID-19 pandemic response, similar to the Bayanihan packages.

There have been two Bayanihan packages under the administration of President Duterte, which were implemented as a result of the series of lockdowns brought about by the two-year pandemic that started in 2020.

Salceda, who chairs the House ways and means committee, had given assurance that Marcos can have funding sources for his proposed Bayan Bangon Muli stimulus package for the poor.

“Realignment is not the only recourse for the president-elect.

I can see at least five other possible courses of action for the package to be funded adequately,” Salceda said.

The reelected Albay congressman enumerated them as a “cash sweep” through an executive order, a “supplemental appropriations bill with unprogrammed allocations,” the use of “unused funds in Special Purpose Funds,” adopt another Bayanihan that will place under moratorium “wasteful projects.”

Another mechanism that Salceda proposed is the inclusion of a “provision that allows the president to use unused or unreleased subsidies to GOCCs (government-owned and controlled corporations).”

Vargas, who chairs the House committee on social services, also supported the move.

“It is crucial that we extend to the incoming administration the widest range of budgetary tools to address the continuing effects of the pandemic on affected sectors and bring the economy back on its feet,” he said.

He added that the poor and other vulnerable sectors of society should continue to receive expanded social protection and other forms of government assistance.

“The oppressive economic effects of the pandemic continue to be felt by the poor and other vulnerable sectors. Aid in the form of financial and food assistance remains to be the most immediate lifeline that government can extend to them,” Vargas said.

Stimulus bills

Meanwhile, senators in the incoming 19th Congress vowed to act on Marcos’ request for lawmakers to pass economic stimulus bills to assist industries badly hit by the pandemic and hasten the country’s recovery from the crisis.

Senate Majority Leader Juan Miguel Zubiri said his campaign promise was to pass a Bayanihan 3 package to provide funding assistance to distressed industries such as tourism and micro, small and medium enterprises (MSMEs) that were affected by the pandemic.

“So the request of our president to pass a stimulus package is part of my legislative priority as a reelected senator of the 19th Congress and will have my full support. This measure is badly needed to jump-start our economic recovery and push us to becoming an Asian tiger,” Zubiri told reporters.

Senator-elect Loren Legarda also backed the passage of a stimulus package for small businesses.

“I will ensure that the MSME law will be adequately funded. I will ensure that MSME programs of various government agencies will be effectively implemented. I will support the economic empowerment of every Filipino family,” Legarda said.

Senator-elect Francis Escudero said he completely agreed with the stimulus programs.

“This is exactly what we need, especially for MSMEs and the agriculture sector. Election spending spurred and increased our GDP (gross domestic product) and must be sustained in order to spur the economy further and create needed stable jobs domestically,” Escudero added.

He noted that among possible sources of funds, aside from borrowing, would be sale of unnecessary government assets, improvement in the collection of current taxes, fees and charges, curbing corruption and the proper allocation of scarce resources through the yearly budget.

“I look forward to working with like-minded and development/reform-oriented people in the government, regardless of affiliation or color they may have had or carried in the last elections, and call on our people to do the same. Our country and people deserve nothing less,” Escudero said.