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P24 BILLION IN LANDBANK BUDGET TO CUSHION IMPACT OF TRAIN TAXES
« on: January 01, 2018, 05:38:37 AM »
HON. MICHAEL “MIKEE” L. ROMERO, Ph. D.
1-PACMAN Party-list

Assistant Majority Leader
Vice Chair, Youth & Sports Development and 2 other Committees

P24 BILLION IN LANDBANK BUDGET TO CUSHION IMPACT OF TRAIN TAXES

1-PACMAN Party-list Representative Michael Romero pointed out that Landbank has P24.488 billion for its tax reform cash transfer project subsidy for which Landbank and DSWD will soon have guidelines on. 

DSWD’s tax reform cash transfer budget is P1.184 billion. “Between just these two agencies, government has P25.672 billion for cushion versus consumer price impacts of the TRAIN Law,” Romero said. 

DSWD and Landbank have been tasked in the 2018 GAA to issue the guidelines for the tax reform cash transfer subsidy.

Aside from these funds, Landbank and DBP also have P1.133 billion each for the PUV modernization program loans to PUV operators.

Romero is the author of five bills seeking to boost the ability of Landbank to serve its clients.

Congress awaits the project mechanics and components of the PUV modernization project from the DOTr, DBP, and Landbank. (END)

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