Support Marcos’ legislative agenda for business

Spokesman Ferdinand Martin Romualdez said the House of Representatives will focus on bills that will align with President Ferdinand “Bong Bong” Marcos Jr.’s economic and financial agenda.

House Speaker Ferdinand Martin Romualdez speaks during the third general membership meeting of the Philippine Chamber of Commerce and Industry on Friday, August 5, 2022, outlining the House of Representatives’ support for the Marcos administration’s legislative agenda. Photo by J.Gerard SEGUIA

Speaking at the third general membership meeting of the Philippine Chamber of Commerce and Industry on Friday, Romualdez said the Lower Chamber supports President Marcos’ Medium Term Fiscal Framework (MTFF) aimed at reducing the country’s deficit, promoting fiscal sustainability, and enabling strong economic growth.

“Last Monday, July 25, 2022, the House of Representatives adopted Concurrent Resolution 2, expressing the full support of the Chamber of Government’s Naval Forces Command drafted by the administration of President Ferdinand Bongbong Marcos Jr.,” Romualdez, representative of the First District of Leyte, explained.

“I would venture that this event is historic to the best of my knowledge, as this is the first time that our legislators have fully committed to a framework that will serve as an anchor for national government spending over the next six years,” he said. .

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“We are aligning our initiatives in Congress with the economic recovery programs of the national government,” Romualdez said. “President Marcos Jr. listed 19 legislative measures that he wants you to take priority for approval, some of which may have come from your suggestions here at the IASC.” .

The actions mentioned at the meeting are as follows: the Guide Act, or the State Financial Institutions Consolidated Initiatives for Troubled Enterprises for Economic Recovery 2. The Assessment Reform Bill; BIVITA or Passive Income Taxes and Financial Intermediary Act; e-Government Law; Internet or e-commerce law; national land use law; Enactment of an enabling law for the natural gas industry; Amendments to the Electric Power Industry Formula or the Ebera Act; Amendments to the Build, Operate and Transfer Law.

Romualdez hopes that most of these initiatives will be passed in the future as they will help the country’s economy recover.

“The majority of the priority measures President Marcos Jr. outlined in his State of the Nation address are essentially adopted by no less than the Speaker of the House, so I expect my fellow legislators to take action on these laws. I assure you of one thing, stakeholders, that they will be Consult you on every action we will be dealing with. Please make your decisions very clear so that you can all be heard here at PCCI before we issue these proceedings,” he said.

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