Bayanihan 3 may be passed in House committee level this week or next —Salceda

Albay Representative Joey Salceda on Monday said the proposed third Bayanihan law could be passed in the committee level this week or next.

In a virtual interview with reporters, Salceda said the joint House Committees on Appropriations and of Economic Affairs would meet to discuss the proposed measure that aims to provide much-needed lifeline to individuals, families and businesses severely affected by the  COVID-19 pandemic.

Salceda said it seems there would be no special session to discuss the bill despite calls from some lawmakers.

"Based po sa text sa akin, the joint committee will approve it, I think this week or next week. Basta it should be available by May 17. There's no appetite for a special session," Salceda said.

"Definitely, I think there will be a Bayanihan 3. It will be deficit neutral," he added.

Salceda, together with Speaker Lord Allan Velasco and other House leaders, held a meeting with economic managers last Friday to discuss the COVID-19 relief and where to get the funds for Bayanihan 3.

One of the measures suggested by Salceda to secure funds for Bayanihan 3, or the Bayanihan to Arise As One Act, is to increase the dividend remittances from government-owned and -controlled corporations (GOCCs).

"The first measure really is increasing the required dividend remittances of GOCCs from 50% to 75%. That's allowed under Republic Act 756, but it would not be permanent, it would only be for a temporary period. I think we can easily raise about P70 billion," he explained.

"We want to authorize the DOF (Department of Finance) to identify certain GOCCs that are over-capitalized," Salceda added.

Salceda further said another urgent option is "to enact pending tax measures that the House already passed."

"The most obvious ones are on POGOs and on e-sabong. They are operational, but the tax regime is uncertain, so we’re not getting the most out of these. That will yield a combined P40 to 52 billion over the next five years,” he said.

Salceda said they could initially raise more or less P140 billion, which is deficit neutral.

"We're on putting on standby P166 billion for Phase 2 and another Phase 3 for P63 billion depending on revenue performance," he said.

Lawmakers from both chambers of Congress have been pushing for a Bayanihan 3 to provide assistance to individuals affected by the health crisis. —KBK, GMA News