NextGen Day

To ensure better public services for Filipinos and hasten economic growth, the House of Representatives has approved a total of 13 priority measures proposed by President Ferdinand R. Marcos Jr. and included in the Common Legislative Agenda (CLA) of the Legislative-Executive Advisory Council (LEDAC).

The Philippine Passport Act, the Internet Transaction Act/E-Commerce Law, the National Disease Prevention Management Authority or Center for Disease Control and Prevention, the Medical Reserve Corps (HEART), and the Agrarian Reform Debts Condonation were all approved on final reading during Monday’s session.

The Waste-to-Energy Bill, the Apprenticeship Act, the Public-Private Partnership (PPP) Act, the Magna Carta of Barangay Health Workers, the Valuation Reform Bill (Package 3), the Eastern Visayas Development Authority (EVDA), and the Leyte Ecological Industrial Zone were also approved by the House.

The number of priority measures the House had adopted since it started session last November 7 increased to 15 with the adoption of the 13 bills.

The Passive Income and Financial Intermediary Taxation Act (PIFITA), the fourth set of legislation under the Comprehensive Tax Reform Program, and the Virology Institute of the Philippines were approved by the House this week along with two other bills that were part of the CLA (CTRP).

Along with passing these bills, the House on Monday night also passed the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill on second reading.

President Marcos has signed into law two further CLA measures, the SIM Registration Act and the Resetting of the Barangay and Sangguniang Kabataan Elections. These two acts were both adopted by the LEDAC.

On Monday, the House’s plenary discussions on the proposed establishment of the Maharlika Investment Fund began (MIF).

According to the bill’s revised language, the initial investment for the MIF will come from the investible funds of the government-owned Land Bank of the Philippines (PHP 50 billion), Development Bank of the Philippines (PHP 25 billion), and the estimated PHP 35 billion in dividends from the Bangko Sentral ng Pilipinas (BSP) for this year.

The Government Service Insurance System (GSIS) and the Social Security System (SSS) will not be considered as potential sources of initial funding for the MIF, it has been decided by the writers.

Other changes to the proposal were made to tighten the protections intended to stop abuse and keep MIF out of politics.

Speaker Martin Romualdez reaffirmed the House’s unflinching resolve to move promptly on the priority initiatives outlined in the CLA before the start of sessions last month, including the planned PHP5.26 trillion national budget for 2023.

The national budget for 2023 was approved by both chambers of Congress last week, and President Marcos is anticipated to sign it after his trip to Belgium this week to attend the EU-ASEAN Commemorative Summit.

Romualdez stated, “We will continue to work on the passage of other LEDAC priority bills.

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