Connect with us

Hi, what are you looking for?


House claims support from 224 legislators in show of force for 3rd stimulus

THE leadership of the House of Representatives is claiming support from 224 legislators for the proposed P420-billion stimulus package which will become the third Bayanihan law if passed.

In a statement Tuesday, Speaker Lord Allan Jay Q. Velasco said representatives from across the political spectrum expressed their support for House Bill No. 8628 which if approved will go into the books as the Bayanihan to Arise as One Act (Bayanihan III).

The third Bayanihan package would be the largest by far and at the bill stage will be subject to reduction as the government weighs its ability to fund the measure.

The proposed Bayanihan III bill has 12 principal authors and 212 co-authors and allocates P108 billion for social amelioration program assistance to families affected by the pandemic; P100 billion for capacity-building of businesses in critically-impacted industries; P70 billion for capacity-building for agricultural workers; P52 billion for wage subsidies; P30 billion for displaced workers; P30 billion for the internet expenses of teachers and students; P25 billion for COVID-19 vaccines and medicine; and P5 billion for the rehabilitation of typhoon-affected areas. 

“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,” the Speaker said. “We deemed it necessary to address all fronts in stimulating our economy back to health, and Bayanihan III provides a holistic approach in addressing all our current woes,” he said.

Mr. Velasco said Bayanihan III will provide P8,000 to each worker displaced by the pandemic.

He added that each household member will receive P1,000 regardless of economic status. Each student and teacher will receive an additional P1,000 allowance.

The proposed law will also establish a “Bayanihan Council,” which will be responsible for the efficient implementation of the Bayanihan III programs.

Expenditure and implementation issues marred the first two Bayanihan packages, which Mr. Velasco promised to avoid. The first package, the Bayanihan to Heal as One Act, was signed in March 2020 and authorized the realignment of P275 billion for emergency spending items like cash aid for households unable to work during the quarantine. The second law, the Bayanihan to Recover as One, was signed in September and authorized up to P165 billion, including P25 billion contingent on the availability of funds, to help gradually reopen the economy. — Gillian M. Cortez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The Bank of the Philippines Islands (BPI) secured back-to-back awards from a multitude of notable local and regional awarding entities throughout 2022. These recognitions...


A glittering night of celebration for the UK’s 140 finalists of the Business Champion Awards. Over 300 guests filled the East Wintergardens in London’s...


THE PHILIPPINE government should take time to study the transport modernization program and execute it properly rather than rush the whole process, according to...


Shinagawa Healthcare Solutions Corp. is preparing to open a diagnostic and preventive care center in Bonifacio Global City (BGC) next month, the company’s president...


The Philippine government is planning to launch a retail dollar bond offering next month, Finance Secretary Benjamin E. Diokno said. “We plan to launch...


Fisherfolk, farmers, children, and individuals residing in rural areas remained the poorest sectors in 2021, according to the Philippine Statistics Authority (PSA). Preliminary estimates...

You May Also Like


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.