Senators told: There’s still time to pass crucial economic bills

Local and foreign business groups urged the Senate to finally pass six economic bills, noting this was still “achievable” even with little time left.

In a joint statement on Wednesday, 13 business groups urged senators to pass the bills that were already given the green light by the House of Representatives. These are: the Ease of Paying Taxes bill, Open Access in Data Transmission bill, Philippine Creative Industries bill, Promotion of Digital Payments, as well as two other pending tax reform packages on property valuation and passive income.

The groups commended the passage of landmark economic bills like the amendments to the Public Service Act and the Retail Trade Liberalization law. But they believe more can still be done, even as Congress is scheduled to adjourn on June 4.

“In letters sent to House and Senate leaders, the business groups and chambers commended the Legislative for achieving an impressive record with the enactment of landmark legislation … while also calling on Congress to pass additional achievable reforms in the remaining session days of the 18th Congress,” they said.

The appeal comes as the country waits for a clearer policy direction from presumptive president Ferdinand Marcos, Jr., the son and namesake of the late ousted dictator, who has yet to name the leader of his economic team.

The business groups also urged the Bicameral Conference Committee to ratify the reconciled versions of the Philippine Transportation Safety Board and the Rural Agricultural and Fisheries Development Financing System Act.

They are also urging the Senate to finally let the Philippines join the Regional Comprehensive Economic Partnership (RCEP) Agreement. The RCEP is currently the world’s largest trade deal, which many other members in the Association of Southeast Asian Nations have already joined.

The statement was signed, among others, by the American Chamber of Commerce of the Philippines and the Bankers Association of the Philippines. INQ