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Bicam OKs CREATE bill for business recovery

Bicam OKs CREATE bill for business recovery Delon Porcalla © STAR/ File Bicam OKs CREATE bill for business recovery MANILA, Philippines Senators and congressmen have ironed out their conflicting versions in the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill during their bicameral conference committee meetings, and the tax reform measure is now ready for signing “It’s finished. Both panels are now ready to sign,” Albay Rep. Joey Salceda, chairman of the ways and means committee of the House of Representatives, said over the weekend as both houses of Congress try to help the national government accelerate the country’s ailing economy.

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The pandemic creates an appetite for stimulus that's hard to satisfy

Kyle Aristophere T. Atienza MARITES A. SOTELO, 53, owns a small food store near a public school in Alicia, Isabela — scene of some of the worst Cagayan Valley floods after Typhoon Ulysses (international name: Vamco) in November. That means that on top of the pandemic, which deprived her of her clientele after the schools closed, Ms. Sotelo has had to deal with the economic damage done to her town by the typhoon, which caused the Cagayan River to overflow its banks — to the extent that she wishes for more government aid for small businesses. Her plight, multiplied millions of times across the country, has helped create unprecedented demand for stimulus funds, with Congress enacting economic revival packages in the hundreds of billions of pesos. Meanwhile, economic managers have tried to persuade legislators to accept smaller amounts, citing limits to the resources available to the government.

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