An Act Providing An Economic Stimulus Strategy For The Effects Of The Corona Virus Disease (Covid-19) And Appropriating Funds Therefor

• The bill has essentially adopted the proposed consolidated bills filed in the House of Representatives, while incorporating our amendments to enhance the capacity of the stimulus package to respond to the impact of COVID-19.
• This proposed measure attempts to contribute in the efforts to control the COVID-19 pandemic today and to stimulate the economy. It seeks first to strengthen the capacity of the Philippine healthcare system to respond to disease outbreaks and epidemics. Under this bill, massive investments will be on health programs including the provision of sufficient personal protective equipment (PPEs) and other medical supplies, establishment of testing centers in every province, expansion of hospital bed capacity, and construction of isolation and quarantine centers. Adequate medical and allied medical workers will be hired and granted commensurate incentives. Funding for research will be given priority and incentives provided for the discovery of a cure for COVID-19.
• To sustain the gains from government’s response to the COVID-19 pandemic, to provide Filipino families with additional resources to accelerate recovery, and to stimulate the economy through household spending, this proposed measure grants additional financial assistance to Filipino families, which ranges from Five Thousand Pesos (P5,000) to Eight Thousand Pesos (P8,000). This financial assistance shall be subject to terms and conditions similar to those governing the Emergency Subsidy Program as provided in Section 4(c) of Republic Act No. 11469, otherwise known as the Bayanihan to Heal as One Act.
• The bill will protect the incomes of workers as it grants wage subsidies to critically-impacted enterprises. Those displaced workers will have access to a full-cycle employment facilitation service from government agencies.  Overseas Filipino Workers (OFWs) who will be repatriated or those who will not be able to leave the country under renewed contracts abroad will be given unemployment benefits. Those in the informal sector like the freelancer and the self-employed will receive amelioration benefits for two (2) months.  The SSS will also provide an unemployment benefit to employees who have been involuntarily separated from service due to the COVID-19 pandemic. We have also added a provision where government will continue to pay salaries/wages of Contract of Service (COS), Job Order (JO), Institutional COS Workers even if not allowed to work for the entire duration of the quarantine. Employees who contract COVID-19 may avail of sick leave benefits and SSS will compensate business entities for such salaries paid, up to P120,000 per individual, in excess of their respective accumulated sick leaves. However, for government employees who contract COVID-19, they shall continue to receive their salaries even after the exhaustion of their accumulated sick leaves. There is no need for GSIS intervention as the extended sick leaves may be funded from the existing regular salaries of the employee concerned included in the Personnel Services budget of the agency.
• Regulatory Relief for industries includes the suspension of fees and charges by the President for a period of six (6) months through an executive order. The Anti-Red Tape Authority (ARTA) shall prepare a list of these non-tax and non-duty fees and charges imposed on enterprises. Deadlines for all filings and payments due shall be extended with no additional interests, fines or penalties. Regulatory agencies shall simplify and shorten renewal and new business registration processes.

Signed into law as RA 11494. This was substituted by SBN 1564 under CRN 98.

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