Lawmaker: Time to think about Bayanihan 3


Posted at Aug 21 2020 02:26 PM

Watch more in iWantTFC

A lawmaker on Friday urged her peers to “start thinking” about a third law that could rescue the economy from the coronavirus pandemic that has left businesses struggling from months of lockdown. 

Marikina Rep. Stella Quimbo, an economist, said she estimated that the pandemic has caused some P2.4 trillion in economic damage. 

The P165 billion in funds that President Rodrigo Duterte is allowed to realign under the Bayanihan to Recover as One (Bayanihan 2) bill is “too small” to counter this damage, she said. It is the second COVID-19 crisis response measure, following the Bayanihan to Heal as One law that lapsed in June.

“We have to start thinking about Bayanihan 3,” Quimbo said in an ANC interview. 

The Bayanihan 3 could perhaps be “carved out” of an economic stimulus package that the House of Representatives approved in June, which sets aside P708 billion for 2020, she said. 

Bayanihan 2 on Thursday moved closer to becoming a law after it hurdled a bicameral conference of senators and House of Representatives members.

Watch Quimbo’s interview here. 

ANC, Aug. 21, 2020