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Senate to pass economic recovery bills: Senate Majority Leader Migz Zubiri on Thursday, September 10, 2020 tells President Duterte’s economic team that the upper chamber is ready to pass the proposed Financial Institutions’ Strategic Transfer (FIST) Act, allowing banks to dispose of bad loans and non-performing assets through asset management companies, and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, lowering the corporate income tax rate from 30 to 25 percent. “Hopefully we can get that out of our hands before the break and already pass these into law,” Zubiri said during the virtual briefing of the Development Budget Coordination Committee (DBCC) on the proposed 2021 National Expenditure Program (NEP). (Screen grab/ Senate PRIB)