Pangasinan Fourth District Representative Christopher “Toff” De Venecia is calling for the swift passage of the the proposed P1.3-trillion economic stimulus package called Accelerated Recovery and Investments Stimulus for the Economy of the Philippines (ARISE Philippines).
On Tuesday, August 4, the politiko said ARISE Philippines would help sectors severely affected by the COVID-19 pandemic to bounce back.
“The Lower House proposed a more comprehensive 1.3 trillion-peso stimulus pack that would have addressed the concerns of many aversely affected sectors, some of them on the brink of collapse, and may have made possible a V-shaped recovery for our economy,” De Venecia said in a Facebook post.
“Wage subsidies in our proposal alone would have been 112 billion. And the tourism sector would have gotten a 58 billion-peso stimulus package. And many other sectors like agri-fisheries as well. But this seems to be falling on deaf ears. #PassAriseBillNow,” he added.
The Philippine economy went down by 16.5% during the second quarter of 2020, largely due to the COVID-19 crisis.
Cong Stella Quimbo, one of our fiercest lady legislators and a top economist in the country, has estimated that the…