Sunday, November 29, 2020

Romualdez: House Processed 220 Measures In 20 Days

Romualdez: House Processed 220 Measures In 20 Days

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The House of Representatives has processed a total of 220 measures in 20 session days, thus delivering its commitment to pursue the legislative agenda of President Rodrigo Duterte.

In a statement on Monday, House Majority Leader Martin Romualdez reported that the House processed an average of 11 measures per session day from July 22 to October 8.

Romualdez said the chamber also approved a total of 18 bills on third and final reading.

Romualdez, who chairs the House committee on rules, highlighted that the notable bill that was passed on final reading in record time was the proposed 2020 PHP4.1-trillion national budget.

Other bills approved on third and final reading include the tax reform measures, such as the HB No. 1026 or a measure imposing additional excise taxes on alcohol, tobacco and vape products; HB No. 300 or amendment to the Foreign Investment Act of 1991; HB No. 304 or the Passive Income and Financial Intermediary Taxation Act (PIFITA); and HB No. 4157 or the Corporate Income Tax and Incentive Rationalization Act (CITIRA).

“We also immediately passed on third and final reading bills under the Comprehensive Tax Reform Program (CTRP) to help reach the A credit rating goal of the Duterte administration,” he said.

“We are notch away from ‘A’ territory rating after a vote of confidence by Standard & Poor’s (S&P), upgrading the country’s credit rating from ‘BBB’ to ‘BBB+’ with a stable outlook because of the robust economic growth,” he added.

Romualdez vowed that the House leadership will continue to perform better to pass key legislative measures aimed at uplifting the lives of Filipinos.

“The House as an institution performed its tasks commendably and with distinction to deliver the legislative agenda of the President. We answered the challenges and demands of our duties and responsibilities,” he said.

“This will usher us to a good start. Through the collective hard work and determination of House members under the leadership of Speaker Cayetano, we are always focused and committed to pass quality legislation at all times to make better the life of Filipinos,” he added.

The House leader noted that the lower chamber approved 38 bills on second reading and adopted 14 resolutions. (PNA)

Photo Credit: facebook.com/iamMartinRomualdez

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