Drilon sees P500-B potential fund source for Bayanihan 3
MANILA, Philippines — Senate Minority Leader Franklin Drilon said Wednesday there is about P500 billion under the 2021 budget that can be tapped to fund the proposed Bayanihan 3 law.
“We have made our own analysis and potentially, we can review about P500 billion in the budget for activities which have not been undertaken. This is a potential source, realign it, like the NTF-ELCAC (National Task Force to End Local Communism and Armed Conflict) budget and a lot of contingent funds and other items in the budget,” Drilon said in an interview with the ABS-CBN News Channel.
“We were looking at the various items in the budget and we can identify about 500 billion which can be realigned,” he added.
Drilon expressed his support for a third Bayanihan law, saying there is a need for it as the country continues to grapple with the pandemic.
“We are in support of Bayanihan 3. We need the Bayanihan 3. The issue is the funding,” he said.
“Where do we get the funds? Our tax collections are at the bottom of the pit,” he added.
Several bills have been filed in Congress seeking a third Bayanihan measure that aims to aid Filipinos and revive the country’s economy amid the pandemic.
In the House of Representatives, Speaker Lord Allan Velasco said the lower chamber will expedite the approval of the bill.
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