A PROPOSED measure pushing for the P1.5-trillion Bayanihan 3 stimulus bill was proposed in Congress, with the objective of supporting President Ferdinand Marcos Jr.’s so-called “Bayan Bangon Muli” or BBM agenda.
In House Bill 271 filed by Camarines Sur Rep. LRay Villafuerte and eight other congressmen from Bicol, it mentioned that it will be able to help provide more jobs and enable the country’s economy to cope with global crisis brought about by the COVID-19 pandemic and tension in the war between Russia and Ukraine.
Under the stimulus bill called “National Economic Stimulus and Recovery Act of 2022,” the P1.5 trillion recovery fund will be used in three years or about P500 billion each year.
Incoming House Speaker Ferdinand Martin Romualdez earlier pushed for the BBM Bill during the 19th Congress, just like Bayanihan 1 and Bayanihan 2 that are both government responses to the pandemic.
Villafuerte believes that the proposed stimulus package will also allow President Marcos to match the infrastructure development efforts started by former President Rodrigo Duterte.
But for now, the package will center on the establishment and rehabilitation of facilities for the program called “HEAL IT” or Health, Education, Agriculture, Livelihood, Information Technology and Tourism.
Under the same House bill, infrastructure spending will be focused on the broader opportunities such as job creation, particularly in the provinces while there is the “Balik Probinsiya Program” that hopefully will allow decongestion of people in urban areas.