SPEAKER Ferdinand Martin Romualdes said the House of Representatives will focus on bills that will be in line with the economic and financial agenda of President Ferdinand “Bongbong” Marcos Jr.
Speaker Ferdinand Martin Romualdes speaks at the 3rd General Meeting of Members of the Philippine Chamber of Commerce and Industry on Friday, August 8. 5, 2022, explaining the House’s support for the Marcos administration’s legislative business agenda. PHOTO J. GERARD SEGIA
Speaking at the 3rd General Meeting of Members of the Philippine Chamber of Commerce and Industry on Friday, Romualdes said the lower house supports President Marcos’ Medium Term Fiscal Facility (MTFF), which aims to reduce the country’s deficit, ensure financial stability, and ensure a sustainable economic growth.
“The House of Representatives passed last Monday, July 25, 2022, Parallel Resolution No. 2 expressing the House’s full support for the MTFF developed by the administration of President Ferdinand “Bongbong” Marcos Jr.,” said Romualdes, spokesman for the first district of Leyte, explained.
“I dare say this is historic, to the best of my knowledge, the first time our legislators are fully committed to a structure that will anchor the national government’s spending over the next six years,” he said. .
“We align our Congressional initiatives with the national government’s economic recovery programs. President Marcos Jr. has listed 19 legislative measures that he wants to approve as priorities, and some of them could come from your proposals here at PCCI,” Romualdes said. .
The following measures were mentioned at the meeting: GUIDE Act, or Public Financial Institutions Uniform Initiatives on Troubled Enterprises for Economic Recovery 2. Valuation Reform Bill; Pifita or the Law on Taxation of Passive Income and Financial Intermediaries; Law on e-government; Internet or Electronic Commerce Act; National Land Use Law; adoption of a permissive law for the gas industry; amendments to the format of the electricity industry or the law of Epirus; and amendments to the Construction, Operation and Transfer Act.
Romualdes hopes that in the future most of these initiatives will be adopted as they will help the country’s economy recover.
“Most of the priority measures outlined by President Marcos Jr. in his State of the Union Address have been basically approved by no less than the Speaker of your House, so I expect my fellow legislators to take action on these bills. One thing I assure you, as stakeholders, you will be consulted on all the measures that we will take. Please make your decisions very clear so that all of you here at PCCI can be heard before we take these steps,” he said.