{"id":260087,"date":"2020-07-01T21:23:22","date_gmt":"2020-07-02T01:23:22","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=260087"},"modified":"2020-07-01T21:23:22","modified_gmt":"2020-07-02T01:23:22","slug":"solon-backs-call-for-special-session-on-bayanihan-ii","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/07\/01\/solon-backs-call-for-special-session-on-bayanihan-ii\/","title":{"rendered":"Solon backs call for special session on Bayanihan II"},"content":{"rendered":"
\"\"<\/a>
Albay Rep. Joey Salceda, panel chair, said Bayanihan II proposal would contain a stimulus package that \u201cresponds to the most pressing needs\u201d of the country amid the coronavirus disease (Covid-19) pandemic. (File Photo<\/a>: Joey Sarte Salceda\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 The chairman of the House Ways and Means Committee on Wednesday expressed support for President Rodrigo Duterte\u2019s plan to call for a special session to pass the \u201cBayanihan to Recover as One\u201d bill or the \u201cBayanihan II.\u201d<\/p>\n

Albay Rep. Joey Salceda, panel chair, said Bayanihan II proposal would contain a stimulus package that \u201cresponds to the most pressing needs\u201d of the country amid the coronavirus disease (Covid-19) pandemic.<\/p>\n

\u201cThis is a request we have made strongly to the President over the past weeks, and we are prepared to work during the special session to get a viable compromise passed,\u201d Salceda said.<\/p>\n

Salceda noted that the House of Representatives has been preparing for negotiations with the Executive branch regarding the funding requirements of the stimulus package that can be enacted.<\/p>\n

\u201cTime is of the essence in this matter, and we can confidently assure the people that the House is ready to get this done quickly,\u201d he said.<\/p>\n

Presidential Spokesperson Harry Roque said the Executive branch is expected to call for a special session once the negotiations between the Department of Finance and Congress are completed.<\/p>\n

\u201cHalos tapos na po ang negosasyon sa panig ng Ehekutibo at ng Kongreso, at maisusulong na po ang Bayanihan II<\/em>\u00a0(The negotiation between the Executive and Congress is almost over, and we can finally push for Bayanihan II),\u201d Roque said in a media interview.<\/p>\n

\u201cAt ibig sabihin dahil halos tapos na ang kanilang kasunduan, hindi po magtatagal ay hihingi na po ng<\/em>\u00a0special session\u00a0ang Ehekutibo para maisabatas itong Bayanihan II<\/em>\u00a0Package (That means, if a compromise is almost reached, then it won\u2019t take long before the Executive calls for a special session to enact Bayanihan II Package),\u201d Roque added.<\/p>\n

Salceda said it is also time to pass the Corporate Recovery and Tax Incentives for Enterprises (CREATE), which has already hurdled the lower chamber and now awaits Senate approval.<\/p>\n

He said under the CREATE bill, the country will have a low basic corporate income tax (CIT) rate of 20 percent, a standard menu of incentives, and a bonus menu of incentives for the best investors.<\/p>\n

\u201cI have always underscored the willingness of the House to adopt a fiscally-sustainable Senate version without the need for bicameral proceedings,\u201d he said.<\/p>\n

Salceda also vowed to enact tax reforms necessary to make government borrowing sustainable.<\/p>\n

He said his committee has prepared proposals that can raise PHP591 billion in five years, which would exceed, by many multiples, the funding needed to amortize due to Covid-19 loan payments over the same five years.<\/p>\n

\u201cI thank President Duterte for heeding our call to be open to borrowing to finance priority measures, especially those that will directly help our right against Covid-19. Funding more contact tracing has been something I have always backed Finance Secretary Dominguez on, so we are ready to adopt a package that funds it,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 The chairman of the House Ways and Means Committee on Wednesday expressed support for President Rodrigo Duterte\u2019s plan to …<\/p>\n","protected":false},"author":44,"featured_media":89810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-260087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-filane-mikee-cervantes","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/260087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=260087"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/260087\/revisions"}],"predecessor-version":[{"id":260089,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/260087\/revisions\/260089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/89810"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=260087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=260087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=260087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}