The House of Representatives ratified the Bayanihan to Recover as One Act, or the Bayanihan 2 on Monday which seeks to jumpstart the economy impacted by the pandemic.
The reconciled ₱165.5-billion stimulus plan from last week’s bicameral conference was approved in the House, four days after the Senate first ratified the measure.
Once transmitted to President Rodrigo Duterte for his approval, Bayanihan 2 will likely be enacted into law by September, the House said.
The ₱165.5 billion stimulus plan has a ₱25-billion standby fund and ₱140 billion worth appropriations for the following programs:
- ₱39.47 billion for capital infusion to government banks
- ₱24 billion to boost agriculture and provide assistance to farmers and fishermen
- ₱13.5 billion for benefits and hiring of more healthcare workers
- ₱13 billion for cash for work program
- ₱6 billion for “individuals in crisis” and other programs of DSWD programs
- ₱5 billion for hiring of contract tracers
- ₱4.5 billion for construction of temporary medical isolation and quarantine facilities, and for expansion of government hospital capacity
- ₱4.5 billion for isolation facilities, hotel accommodation, food and transportation of COVID19 patients
- ₱4 billion for tourism industry
- ₱4 billion for DepEd’s implementation of digital learning
- ₱3 billion for procurement of personal protective equipment, face masks, face shields
- ₱3 billion for development of smart campuses
- ₱2 billion subsidy for LGUs paying interest on loans secured from government banks
- ₱1.5 billion assistance to local government units
- ₱1 billion for TESDA scholarships
- ₱820 million for assistance to Overseas Filipino Workers
- ₱600 million in subsidies, allowance for students severely affected by the pandemic
- ₱300 million in subsidies, allowance for teachers, part time faculty, other employees of state universities and colleges
- and ₱180 million in allowances for national athletes and coaches
A similar version was ratified by the Senate last Thursday. It is now up to the president to sign the bill into law.