Press Release October 21, 2008 ROXAS BATS FOR TEMPORARY MEASURES TO HANDLE FINANCIAL CRISIS Liberal President Senator Mar Roxas today announced a package of incentives that would provide a tax refund for fixed-income earners, stop bank foreclosures and encourage businesses to give permanent employment to more workers in response to the global financial crisis. Roxas filed Senate Bill No. 2689, or the proposed Transitory Individual Economic Stability and Confidence Building Measures Act of 2008, in response to Malacañang's repeated failure to respond to the clamor for a more decisive government program to deal with the effects of the global financial meltdown. "Ang hirap ng panahon ngayon, at lalo pang lalala ang sitwasyon. Kailangan nating magtrabaho para sa pangkasalukuyan at pangmahabaang panahon para malampasan ang krisis na ito, na nakasira na sa ekonomiya ng Estados Unidos at Europa (Times are hard, and they are bound to get worse. We need to work on both the short term and long term so as to weather this crisis, which has already battered the United States and European economies)," said Roxas, Chairman of the Senate Committee on Trade and Commerce. "We need to empower our citizens so they themselves can stimulate demand within the economy. At the same time, we encourage employment stability. All of this is going to be part of what will help our country prepare for any outcomes," he added. SB 2689 will provide the following:
"Aside from this bill, I have also called for changes in next year's budget that would focus on food security, job security, and education and health services. Clearly, our budget needs an overhaul if we are going to weather this storm," Roxas said. He has also filed SB 2688 that would double the maximum insurance for depositors, from P250,000 at present to P500,000. "Huwag tayong maniwala sa propaganda ng ehekutibo na wala na tayong dapat alalahanin. Kung ang ekonomiya nga ng Estados Unidos at Europa nga ay bumabagsak, dapat talagang maghanda na tayo," he added. |
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