The P405.6-billion stimulus package under the Bayanihan to Arise As One Act or the Bayanihan 3 has been endorsed for plenary approval at the House of Representatives.
In a joint hearing on Monday, the House Committee on Economic Affairs and Committee on Social Services approved the unnumbered substitute bill to Bayanihan 3, which aims to boost the country’s economic recovery from the coronavirus disease 2019 (Covid-19) pandemic through direct emergency and social amelioration to Filipinos, livelihood interventions, as well as food security and health interventions.
Speaker Lord Allan Velasco, one of the principal authors of the measure, said at least 290 lawmakers are major writers and co-writers of the third Bayanihan measure.
The bill provides two rounds of cash assistance to every Filipino worth P1,000 for each tranche. The cash subsidy program would have direct funding of P108 billion, and another P108 billion in standby funds.
“Everyone should be given aid during this pandemic,” Velasco said in Filipino. “It has to be equitable. One household with only three members shouldn’t receive an amount equal to another household that has 15 members.”
Around P12 billion shall be appropriated for Phase 1 of assistance for households under the Assistance to Individuals in Crisis Situation (AICS) program of the Department of Social Welfare and Development (DSWD). Some P12 billion shall be appropriated for Phase 2 and P6 billion for Phase 3 of the AICS program.
To assist micro, small and medium enterprises (MSMEs), the Small Business Wage Subsidy (SBWS) program shall be continued and expanded with direct funding of PHP8 billion, and stand-by funds worth P8 billion for Phase 2 and P4 billion for Phase 3.
To provide temporary employment to displaced workers, around P10 billion shall be appropriated for the implementation of the Tulong Panghanapbuhay sa Ating Displaced/Disadvantaged Workers (TUPAD), Covid-19 Adjustment Measures Program (CAMP), and Abot Kamay ang Pagtulong (AKAP) Program, while P10 billion shall be appropriated as stand-by funds for Phase 2 and PHP5 billion for Phase 3.
Assistance to the agri-fishery sector will receive a total of P30 billion worth of standby funds to finance programs and interventions toward food security and farmer income security and welfare. SOVEREIGNPH