Duterte thanks Congress for expected approval of Bayanihan 3

President Rodrigo Duterte on Monday night thanked Congress for its expected approval of the Bayanihan 3 bill or the third installment of the government's response to COVID-19 and its impact on the economy.

In his weekly address, Duterte said the Executive would not let the money provided by the measure go to waste or lost in corruption.

"I thank Congress for understanding us and giving us the support, the critical support we badly need to discharge our duties," Duterte said.

"It is the people’s money tapos in-appropriate ng Congress para dito. I don’t really begrudge them if they are over strict sa mga bagay-bagay sa paggastos nito and we will see to it the money is not wasted and worse it will go into corruption," he added.

Vaccines czar Secretary Carlito Galvez said the proposed measure would hasten the procurement of COVID-19 vaccines, and provide for an indemnification fund.

Speaker Lord Allan Velasco has proposed a third Bayanihan Law, outlining P420 billion worth of interventions to further help stimulate the country's economic recovery amid the COVID-19 pandemic.

Velasco, along with economist and Marikina City Representative Stella Quimbo, filed House Bill 8628, or the proposed "Bayanihan to Arise As One Act" or Bayanihan 3.

A total of 115 members of major political parties and blocs in the House have so far expressed support and signified their intent to co-author House Bill 8628.

Senate President Pro Tempore Ralph Recto has also filed Bayanihan 3 which comes with a P485-billion appropriation for various government interventions amid the COVID-19 pandemic.

Both bills' budget requirements are bigger compared to the earlier Bayanihan to Heal as One and Bayanihan to Recover as One laws which came with P389.2 billion and P165.5 billion, respectively.

Once enacted into law, the bill shall be effective until the adjournment of session in Congress on June 4, 2021.

Presidential spokesman Harry Roque Jr. said earlier on Monday that Duterte had yet to endorse Bayanihan 3.

“Well, we appreciate the policy initiatives of Speaker Velasco. Pero ang consistent position po natin diyan ay mayroon po tayong sapat na fiscal stimulus ngayon sa ating annual budget at ipinapatupad pa po natin iyong Bayanihan 2,” Roque said. -NB, GMA News