THE Senate has vowed to work closely with the administration of President Ferdinand Marcos Jr. to advance legislative measures aimed at reviving the economy, lowering the cost of living, and creating more jobs, Senate President Sherwin Gatchalian said Monday, July 27, 2026.
In his address during the opening of the second regular session of the 20th Congress ahead of Marcos’ fifth State of the Nation Address (Sona), Gatchalian underscored the need for Congress and the Executive to pursue coordinated reforms to address the country's economic challenges, saying improving the lives of ordinary Filipinos would remain the Senate's top priority.
He acknowledged the slower economic outlook for 2026, citing downgraded growth projections from both domestic economic managers and international financial institutions.
According to Gatchalian, weaker growth translates to fewer employment opportunities, lower household incomes, and greater financial pressure on Filipino families, making economic recovery the chamber's foremost legislative agenda.
“The most urgent concern is getting the Philippine economy back on track,” Gatchalian said, adding that the Senate is prepared to support measures that will help achieve the administration's economic objectives.
He stressed, however, that economic progress should not be measured solely through growth figures, but by tangible improvements in people's daily lives, including affordable food, stable employment, and access to basic necessities.
Among the Senate's immediate priorities is the timely approval of the proposed 2027 national budget, which Gatchalian described as the government's most effective instrument for stimulating economic activity and ensuring that public programs and infrastructure projects are implemented without delay.
He also vowed to sustain reforms promoting transparency and accountability in the budget process, including the public livestreaming of bicameral conference committee deliberations and the continued publication of budget documents through the Senate's transparency portal.
Gatchalian identified five major issues that would shape the Senate's legislative agenda: rising food prices, low take-home pay, high electricity costs, inadequate infrastructure and transportation, and job generation.
To help stabilize food prices, the Senate will prioritize amendments to the Rice Tariffication Law to ensure sufficient rice supply while strengthening support for local farmers.
The chamber will also push for the proposed Ginhawa Bill, which seeks to increase workers' take-home pay by exempting additional forms of compensation from income tax, providing relief to employees whose purchasing power has been eroded by inflation.
Addressing soaring electricity costs is likewise among the Senate's priorities, with lawmakers set to deliberate on the proposed ERC Strengthening Bill.
Gatchalian said the measure aims to enhance regulatory oversight and consumer protection amid persistently high power rates.
The Senate also intends to amend the Downstream Oil Industry Deregulation Act to improve transparency in fuel pricing, allowing the government and consumers to better determine whether pump price adjustments accurately reflect global market conditions.
To accelerate long-term economic growth, Gatchalian said the Senate will prioritize the proposed Master Plan for Infrastructure and National Development (Mind) Bill, which seeks to establish a coordinated 30-year infrastructure roadmap covering roads, airports, hospitals, energy facilities, and other critical projects.
Recognizing the role of small businesses in employment generation, the Senate will also pursue amendments to the Magna Carta for Micro, Small and Medium Enterprises (MSMEs). The proposed reforms aim to improve access to financing, credit guarantees, technical support, government procurement opportunities, and faster payment for services rendered to government agencies.
Gatchalian noted that MSMEs account for nearly all registered businesses in the country, making them a critical driver of job creation and economic resilience, particularly amid slower growth.
To ensure the government's economic initiatives move in a coordinated manner, the Senate President proposed the creation of an ad hoc committee that would focus on advancing reforms related to economic growth, employment generation, and lowering the cost of living.
Beyond economic measures, Gatchalian said the Senate remains committed to strengthening investments in education, healthcare, and social protection, describing them as essential pillars of long-term national development.
He emphasized that sustained cooperation between Congress and the Executive would be crucial in translating legislative reforms into meaningful improvements for Filipino families, expressing confidence that a unified approach to governance would help steer the country toward inclusive and sustainable economic growth. (TPM/SunStar Philippines)