PASSAGE of Bayanihan 2 bill will not only help the country but will also further boost assistance for local government units.
In his weekly radio program over dzEQ Radyo Pilipinas Baguio, Representative Marquez Go said the new bill will provide financial assistance for employees and businessmen to restart businesses through low interest loans.
Go said the Bayanihan 2 bill seeks to extend the powers granted to President Rodrigo Duterte under Republic Act 11469 to carry out national policies in response to the Covid-19 pandemic.
"We just passed last Wednesday the Bayanihan 2 bill which will benefit not only Baguio City, the Cordillera region but the whole country. Bayanihan 2 is actually a continuation of the Bayanihan Bill 1 approved into law, which has expired. For us in the House, we have identified different programs under Bayanihan 2 provision that would require additional budget of P162 billion while the Senate approved P140 billion," Go said.
Bayanihan 2 seeks to repeal a provision of the first Bayanihan law, which granted the President the power to take over hospitals and other private facilities amid the Covid-19 crisis.
It will also remove the power of law enforcers to arrest or penalize individuals who violate quarantine policies.
The Bayanihan 2 bill retained until September 30 special powers Congress granted through the first Bayanihan law, which lapsed on June 5.
Bayanihan 2 also allotted P140 billion as a "standby fund" for the government's pandemic response and economic recovery efforts.
"The sources for funding the said bill which we co-authored would come from the un-programmed activities and savings that we expected. Those that are not needed like expenses on MOOE's such us travel which is not needed will be part of the sources of fund, the excess revenue collections which we expect, the loans which we will have to borrow from local financial institutions or from additional foreign borrowing, the franchise tax from gaming activities which is five percent will be utilized for this purpose, income and VAT from gaming operations will also be used for this purpose," Go added.