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Submit a DeedPACQUIAO, LORELIE · Mayor of General Santos
Arman Dimaguila · Representative, 1st District of Biñan
Arman Dimaguila · Representative, 1st District of Biñan
Rodrigo Roa Duterte · President of the Philippines
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28
Positive
12
Negative
2
Neutral
246
Awaiting Verdict
Panfilo Morena Lacson Sr.
Ferdinand Romualdez Marcos Jr.
Ferdinand Romualdez Marcos Jr.
Infrastructure
Roads, bridges, buildings, utilities
33
Lawmaking
Bills, ordinances, resolutions
79
Administrative
Executive orders, policies, procedures
45
Budget
Appropriations, allocations, fiscal matters
16
Procurement
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6
Public Health
Healthcare programs, disease prevention
18
Education
Schools, curriculum, scholarships
14
Environment
Conservation, pollution, climate
4
Social Services
Welfare, housing, community programs
29
Law Enforcement
Police, justice, public order
13
Disaster Response
Emergency management, relief operations
3
Appointments
Personnel decisions, positions
1
Public Statements
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14
Inaction
Failure to act when action was required
0
Other
Custom category not listed above
13
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SECTION 1. Philippine Science High School Campus in the Southern Tagalog Region. - Pursuant to Republic Act No. 8496, there shall be established a regional campus of Philippine Science High School in Region IV which shall be known as "Philippine Science High School, Southern Tagalog Campus," under the supervision of the Department of Science and Technology (DOST). SEC. 2. Campus Director. - The Philippine Science High School, Southern Tagalog Campus shall be headed by a Campus Director who shall be appointed by the Philippine Science High School System Board of Trustees. He shall have all the rights, powers and duties vested in a campus director of Philippine Science High School in accordance with laws. SEC. 3. Appropriations. - The Secretary of Science and Technology shall immediately include in the program of the DOST the operationalization of the Philippine Science High School, Southern Tagalog Campus, the initial funding of which shall be charged against the current year's appropriation of the Philippine Science High School campuses. Thereafter, such sum as may be necessary for its continued operation shall be included in the General Appropriations Act. SEC. 4. Implementation- The Board of Trustees of Philippine Science High School System, under the supervision of the Secretary of the Department of Science and Technology, shall issue such rules and regulations necessary to carry out the purpose of this Act. SEC. 5. Repealing Clause. - All laws, decrees, executive orders, proclamations, rules and regulations, and issuances, or parts thereof, which are inconsistent with the provisions of this Act are hereby repealed or amended accordingly.SEC. 6. Effectivity. - This Act shall take effect fifteen (15) days after publication in the Official Gazette or in two (2) national newspapers of general circulation. For further reading: https://docs.congress.hrep.online/legisdocs/basic_17/HB03607.pdf https://ldr.senate.gov.ph/congress-author/arcillas-arlene-b
Sep 14, 2016
"The City shall provide municipal buildings, cultural centers, public parks including freedom parks, playgrounds, and other sports facilities and equipment, and other similar facilities." (Republic Act No. 7160, Local Government Code of 1991, § 17(b)(2)(vii)). "The Sangguniang Panlungsod shall provide for the establishment, maintenance, protection, and conservation of communal forests and watersheds, tree parks, greenbelts, mangroves, and other similar forest development projects." (Republic Act No. 7160, Local Government Code of 1991, § 458(a)(5)(i)). is In 2018, the Sangguniang Panlungsod of Santa Rosa, through Resolution No. 0037, adopted the final report of the Conceptual Master Plan in reference to the establishment of a People's Park in the city. In conformity with the Comprehensive Land Use Plan (CLUP), it expresses that "Barangay Aplaya included in the Shoreland Overlay Zone - Strategic Agriculture and Fisheries Development Zone (SAFDZ), which, under Republic Act No. 8435, refers to the "areas identified for production, agro-processing, and marketing activities help develop and modernize, with the support of government, the agriculture and fisheries sectors in an environmentally sound manner. to In pursuance of LLDA Memorandum Circular 2020-06, it stated therein that "Proposed developments initiated by any local governments for public use are exempted from the suspension of issuance of shoreland development clearance." Barangay Aplaya in the City of Santa Rosa is strategically located along the coast of Laguna Lake and has great potential for improvement. To develop the property in Barangay Aplaya as a people's park would stir important economic activities around the area. The establishment of the People's Park is embedded with the following objectives for its efficient and effective management: sustainable and responsible tourism, inclusive growth, and multiple-destination marketing. With Santa Rosa consisting of several parks, all of which are privately owned, it is a compelling and sufficient reason to authorize the establishment of the People's Park. This bill seeks to create and establish a People's Park in the City of Santa Rosa to provide economic and commercial opportunities, which will thereafter generate income and job opportunities to the benefit and welfare of every Rosenian as a promise of diverse but inclusive progress. In view of the foregoing, the immediate passage of this proposed measure is earnestly sought. Continue reading here: https://docs.congress.hrep.online/legisdocs/basic_20/HB02484.pdf https://www.congress.gov.ph/house-members/view/?member=L041
Jul 29, 2025
1. Overview of the Legislation Republic Act No. 11954 establishes the Maharlika Investment Fund (MIF), the Philippines' first-ever sovereign wealth fund. Managed by a newly created government-owned corporation called the Maharlika Investment Corporation (MIC), the fund pools state resources to make high-return investments in assets like foreign currencies, corporate bonds, real estate, and major infrastructure projects. 2. The Legislative Fast-Track and Authorship The push for the MIF was heavily driven by the administration's inner circle. House Bill No. 6398 was filed in late 2022 with Speaker Martin Romualdez and Rep. Sandro Marcos acting as primary political drivers. Meanwhile, Marikina Representative Stella Quimbo served as the technical and economic "face" of the bill, aggressively defending its financial structure in the media and during committee hearings. The speed of its passage was unprecedented for a bill of this magnitude: -It took only 17 days for the House of Representatives to deliberate and approve the bill after it was filed. -President Ferdinand Marcos Jr. certified the bill as "urgent," allowing Congress to bypass standard constitutional rules requiring bills to be read on three separate days. -It was signed into law in July 2023, just nine months after its initial proposal, despite massive pushback from civil society, academia, and the business sector. 3. The Pension Controversy and Funding Sources The most explosive controversy during the bill's drafting was its original funding mechanism. The first iterations of the bill mandated that the Government Service Insurance System (GSIS) and the Social Security System (SSS) contribute billions in pension funds to bankroll Maharlika. The public backlash was so severe that lawmakers were forced to scrap this provision. The final law sources its initial ₱125 billion capitalization from: -Land Bank of the Philippines (LBP): ₱50 billion -Development Bank of the Philippines (DBP): ₱25 billion -National Government: ₱50 billion (sourced from Bangko Sentral ng Pilipinas dividends and gaming revenues from PAGCOR). 4. Core Criticisms and "Red Flags" Economists from the University of the Philippines, various business groups (like the Makati Business Club), and political watchdogs opposed the fund due to several critical structural risks: No Budget Surplus: Sovereign wealth funds are traditionally created by countries with massive trade surpluses or excess oil revenues (like Norway or Middle Eastern nations). The Philippines, however, runs a severe budget deficit and carries trillions of pesos in national debt. Critics argue it is fiscally irresponsible to invest borrowed money or drain existing banks to play the stock market. Threat to Public Banks: By pulling ₱75 billion from Landbank and DBP, critics warned that these institutions would have their lending capacities crippled. This directly risks reducing the financial support available to local farmers, micro-entrepreneurs, and agricultural sectors. Corruption and the "1MDB" Comparison: The most enduring criticism is the risk of political patronage and plunder. Opponents frequently drew parallels to Malaysia's 1MDB scandal, where billions of dollars were embezzled from their sovereign wealth fund. Because the MIC Board of Directors is composed entirely of presidential appointees, watchdogs warned that the fund lacks true independence and could be used to bankroll crony projects or "ghost" investments. 5. Current Status The Maharlika Investment Corporation is currently active, with Rafael Consing Jr. appointed as its President and CEO. It has begun looking into its initial investments, recently agreeing to provide a $76.4 million bridge loan to a mining company, though foreign investor interest has reportedly remained lukewarm due to lingering concerns over transparency and safeguards.
Nov 28, 2022
On December 24, 2025, Batangas 1st District Rep. Leandro Legarda Leviste released what he described as a list of Department of Public Works and Highways (DPWH) proponents for the 19th Congress, which he said was allegedly provided to him by the late DPWH Undersecretary Maria Catalina “Cathy” Cabral. According to Leviste, the document details proposed DPWH allocations linked to various lawmakers nationwide. He stressed that the list was shared for public awareness and transparency, while also clarifying that the information should be treated as alleged and subject to verification. Included in the list are two incumbent lawmakers from Zambales. The document indicates that Zambales 1st District Rep. Jefferson “Jay” F. Khonghun is allegedly associated with projects totaling ₱3,011,382,000, while Zambales 2nd District Rep. Doris “Nanay Bing” F. Maniquiz is allegedly linked to a higher amount totaling ₱10,541,882,000. Leviste did not claim that the listed amounts were personally received by the lawmakers, reiterating that DPWH funds are allocated for infrastructure projects and not for individual proponents. He likewise noted that the list reflects proposed or associated project allocations, not confirmed disbursements. Leviste said he has provided copies of the document to members of the media to allow independent scrutiny, emphasizing that discussions surrounding public infrastructure funds should be grounded in transparency and verified facts.
Apr 21, 2026
1. Overview of the Legislation Republic Act No. 11954 establishes the Maharlika Investment Fund (MIF), the Philippines' first-ever sovereign wealth fund. Managed by a newly created government-owned corporation called the Maharlika Investment Corporation (MIC), the fund pools state resources to make high-return investments in assets like foreign currencies, corporate bonds, real estate, and major infrastructure projects. 2. The Legislative Fast-Track and Authorship The push for the MIF was heavily driven by the administration's inner circle. House Bill No. 6398 was filed in late 2022 with Speaker Martin Romualdez and Rep. Sandro Marcos acting as primary political drivers. Meanwhile, Marikina Representative Stella Quimbo served as the technical and economic "face" of the bill, aggressively defending its financial structure in the media and during committee hearings. The speed of its passage was unprecedented for a bill of this magnitude: -It took only 17 days for the House of Representatives to deliberate and approve the bill after it was filed. -President Ferdinand Marcos Jr. certified the bill as "urgent," allowing Congress to bypass standard constitutional rules requiring bills to be read on three separate days. -It was signed into law in July 2023, just nine months after its initial proposal, despite massive pushback from civil society, academia, and the business sector. 3. The Pension Controversy and Funding Sources The most explosive controversy during the bill's drafting was its original funding mechanism. The first iterations of the bill mandated that the Government Service Insurance System (GSIS) and the Social Security System (SSS) contribute billions in pension funds to bankroll Maharlika. The public backlash was so severe that lawmakers were forced to scrap this provision. The final law sources its initial ₱125 billion capitalization from: -Land Bank of the Philippines (LBP): ₱50 billion -Development Bank of the Philippines (DBP): ₱25 billion -National Government: ₱50 billion (sourced from Bangko Sentral ng Pilipinas dividends and gaming revenues from PAGCOR). 4. Core Criticisms and "Red Flags" Economists from the University of the Philippines, various business groups (like the Makati Business Club), and political watchdogs opposed the fund due to several critical structural risks: No Budget Surplus: Sovereign wealth funds are traditionally created by countries with massive trade surpluses or excess oil revenues (like Norway or Middle Eastern nations). The Philippines, however, runs a severe budget deficit and carries trillions of pesos in national debt. Critics argue it is fiscally irresponsible to invest borrowed money or drain existing banks to play the stock market. Threat to Public Banks: By pulling ₱75 billion from Landbank and DBP, critics warned that these institutions would have their lending capacities crippled. This directly risks reducing the financial support available to local farmers, micro-entrepreneurs, and agricultural sectors. Corruption and the "1MDB" Comparison: The most enduring criticism is the risk of political patronage and plunder. Opponents frequently drew parallels to Malaysia's 1MDB scandal, where billions of dollars were embezzled from their sovereign wealth fund. Because the MIC Board of Directors is composed entirely of presidential appointees, watchdogs warned that the fund lacks true independence and could be used to bankroll crony projects or "ghost" investments. 5. Current Status The Maharlika Investment Corporation is currently active, with Rafael Consing Jr. appointed as its President and CEO. It has begun looking into its initial investments, recently agreeing to provide a $76.4 million bridge loan to a mining company, though foreign investor interest has reportedly remained lukewarm due to lingering concerns over transparency and safeguards.
Oct 28, 2022
1. Overview of the Legislation Republic Act No. 11954 establishes the Maharlika Investment Fund (MIF), the Philippines' first-ever sovereign wealth fund. Managed by a newly created government-owned corporation called the Maharlika Investment Corporation (MIC), the fund pools state resources to make high-return investments in assets like foreign currencies, corporate bonds, real estate, and major infrastructure projects. 2. The Legislative Fast-Track and Authorship The push for the MIF was heavily driven by the administration's inner circle. House Bill No. 6398 was filed in late 2022 with Speaker Martin Romualdez and Rep. Sandro Marcos acting as primary political drivers. Meanwhile, Marikina Representative Stella Quimbo served as the technical and economic "face" of the bill, aggressively defending its financial structure in the media and during committee hearings. The speed of its passage was unprecedented for a bill of this magnitude: -It took only 17 days for the House of Representatives to deliberate and approve the bill after it was filed. -President Ferdinand Marcos Jr. certified the bill as "urgent," allowing Congress to bypass standard constitutional rules requiring bills to be read on three separate days. -It was signed into law in July 2023, just nine months after its initial proposal, despite massive pushback from civil society, academia, and the business sector. 3. The Pension Controversy and Funding Sources The most explosive controversy during the bill's drafting was its original funding mechanism. The first iterations of the bill mandated that the Government Service Insurance System (GSIS) and the Social Security System (SSS) contribute billions in pension funds to bankroll Maharlika. The public backlash was so severe that lawmakers were forced to scrap this provision. The final law sources its initial ₱125 billion capitalization from: -Land Bank of the Philippines (LBP): ₱50 billion -Development Bank of the Philippines (DBP): ₱25 billion -National Government: ₱50 billion (sourced from Bangko Sentral ng Pilipinas dividends and gaming revenues from PAGCOR). 4. Core Criticisms and "Red Flags" Economists from the University of the Philippines, various business groups (like the Makati Business Club), and political watchdogs opposed the fund due to several critical structural risks: No Budget Surplus: Sovereign wealth funds are traditionally created by countries with massive trade surpluses or excess oil revenues (like Norway or Middle Eastern nations). The Philippines, however, runs a severe budget deficit and carries trillions of pesos in national debt. Critics argue it is fiscally irresponsible to invest borrowed money or drain existing banks to play the stock market. Threat to Public Banks: By pulling ₱75 billion from Landbank and DBP, critics warned that these institutions would have their lending capacities crippled. This directly risks reducing the financial support available to local farmers, micro-entrepreneurs, and agricultural sectors. Corruption and the "1MDB" Comparison: The most enduring criticism is the risk of political patronage and plunder. Opponents frequently drew parallels to Malaysia's 1MDB scandal, where billions of dollars were embezzled from their sovereign wealth fund. Because the MIC Board of Directors is composed entirely of presidential appointees, watchdogs warned that the fund lacks true independence and could be used to bankroll crony projects or "ghost" investments. 5. Current Status The Maharlika Investment Corporation is currently active, with Rafael Consing Jr. appointed as its President and CEO. It has begun looking into its initial investments, recently agreeing to provide a $76.4 million bridge loan to a mining company, though foreign investor interest has reportedly remained lukewarm due to lingering concerns over transparency and safeguards.
Nov 28, 2022
In recent years, the country has seen a persistent job-skills mismatch that has significantly hindered graduates from securing employment aligned with their educational background and training. This has not only affected economic productivity but has also eroded the confidence of young professionals in the education-to employment pipeline. Thus, there is an urgent need for a systemic, data-driven, and multi-sectoral approach to harmonize education with the evolving demands of the labor market. This bill seeks to strengthen the employability of Filipino graduates by acknowledging and building upon the objectives of the Senate Bill introduced by Senator Bam Aquino, entitled "An Act Establishing Job Placement Offices In All Public Senior High Schools, State Universities and Colleges, and Local Universities and Colleges, and Creating a National Industry-Academe Council and Local IndustryAcademe Councils to Address Job-Skills Mismatch and Promote Decent Employment, and for Other Purposes." For further reading: https://docs.congress.hrep.online/legisdocs/basic_20/HB02638.pdf https://www.congress.gov.ph/house-members/view/?member=L031&name=DIMAGUILA%2C+WALFREDO+%22ARMAN%22+R.%2C+JR.&page=0
Jul 30, 2025
1. Overview of the Legislation Republic Act No. 11954 establishes the Maharlika Investment Fund (MIF), the Philippines' first-ever sovereign wealth fund. Managed by a newly created government-owned corporation called the Maharlika Investment Corporation (MIC), the fund pools state resources to make high-return investments in assets like foreign currencies, corporate bonds, real estate, and major infrastructure projects. 2. The Legislative Fast-Track and Authorship The push for the MIF was heavily driven by the administration's inner circle. House Bill No. 6398 was filed in late 2022 with Speaker Martin Romualdez and Rep. Sandro Marcos acting as primary political drivers. Meanwhile, Marikina Representative Stella Quimbo served as the technical and economic "face" of the bill, aggressively defending its financial structure in the media and during committee hearings. The speed of its passage was unprecedented for a bill of this magnitude: -It took only 17 days for the House of Representatives to deliberate and approve the bill after it was filed. -President Ferdinand Marcos Jr. certified the bill as "urgent," allowing Congress to bypass standard constitutional rules requiring bills to be read on three separate days. -It was signed into law in July 2023, just nine months after its initial proposal, despite massive pushback from civil society, academia, and the business sector. 3. The Pension Controversy and Funding Sources The most explosive controversy during the bill's drafting was its original funding mechanism. The first iterations of the bill mandated that the Government Service Insurance System (GSIS) and the Social Security System (SSS) contribute billions in pension funds to bankroll Maharlika. The public backlash was so severe that lawmakers were forced to scrap this provision. The final law sources its initial ₱125 billion capitalization from: -Land Bank of the Philippines (LBP): ₱50 billion -Development Bank of the Philippines (DBP): ₱25 billion -National Government: ₱50 billion (sourced from Bangko Sentral ng Pilipinas dividends and gaming revenues from PAGCOR). 4. Core Criticisms and "Red Flags" Economists from the University of the Philippines, various business groups (like the Makati Business Club), and political watchdogs opposed the fund due to several critical structural risks: No Budget Surplus: Sovereign wealth funds are traditionally created by countries with massive trade surpluses or excess oil revenues (like Norway or Middle Eastern nations). The Philippines, however, runs a severe budget deficit and carries trillions of pesos in national debt. Critics argue it is fiscally irresponsible to invest borrowed money or drain existing banks to play the stock market. Threat to Public Banks: By pulling ₱75 billion from Landbank and DBP, critics warned that these institutions would have their lending capacities crippled. This directly risks reducing the financial support available to local farmers, micro-entrepreneurs, and agricultural sectors. Corruption and the "1MDB" Comparison: The most enduring criticism is the risk of political patronage and plunder. Opponents frequently drew parallels to Malaysia's 1MDB scandal, where billions of dollars were embezzled from their sovereign wealth fund. Because the MIC Board of Directors is composed entirely of presidential appointees, watchdogs warned that the fund lacks true independence and could be used to bankroll crony projects or "ghost" investments. 5. Current Status The Maharlika Investment Corporation is currently active, with Rafael Consing Jr. appointed as its President and CEO. It has begun looking into its initial investments, recently agreeing to provide a $76.4 million bridge loan to a mining company, though foreign investor interest has reportedly remained lukewarm due to lingering concerns over transparency and safeguards.
Nov 28, 2022
The right to receive support is a fundamental principle enshrined in the Family Code of the Philippines, which imposes a legal obligation on certain individuals to provide financial support to their dependents. Under the law, both legitimate and illegitimate children are entitled to support from their parents, reflecting the State's commitment to the welfare and development of the family unit. Support is not merely a legal duty but a mechanism for reinforcing family cohesion and social stability. This principle aligns with the 1987 Philippine Constitution, particularly Article XV, Section 1, which provides: "Section 1. The State recognizes the Filipino family as the foundation of the nation. Accordingly, it shall strengthen its solidarity and actively promote its total development." Moreover, Article 201 of the Family Code sets the standard for determining the amount of support, stating: "The amount of support, in the cases referred to in Articles 195 and 196, shall be in proportion to the resources or means of the giver and to the necessities of the recipient." Despite these constitutional and statutory safeguards, the enforcement of this right currently depends on the filing of a case before the regular courts-a process that is often costly, slow, and intimidating, especially for women and children, who are the usual beneficiaries of support. For further reading: https://docs.congress.hrep.online/legisdocs/basic_20/HB01560.pdf https://www.congress.gov.ph/house-members/view/?member=L031&name=DIMAGUILA%2C+WALFREDO+%22ARMAN%22+R.%2C+JR.&page=0
Jul 8, 2025
Sa bawat tahanan ay may kuwento ng pagsasama-ng pagmamahalan, ng sakripisyo, ngunit sa kasamaang-palad, minsan ay kuwento rin ng pagdurusa. Marami sa ating mga kababayan ang natatali sa isang kasal na matagal nang walang saysay, puno ng pananakit, panloloko, at kawalan ng pag-asa. Ngunit sa ilalim ng kasalukuyang batas, ang kanilang tanging pag-asa-ang annulment o legal separation-ay tila isang mabagal, magastos, at masalimuot na laban na pahirap sa halip na ginhawa. Panahon na upang itama ito. The current legal framework governing marital relations in the Philippines, embodied in the Family Code of 1987, no longer adequately responds to the social, psychological, and legal complexities of the Filipino family in the 21st century. While crafted with noble intent, the law-over three decades later-has become a rigid and outdated mechanism, often causing more harm than healing to those trapped in broken marriages. One of the most glaring issues is the overly narrow and inaccessible grounds for nullity and annulment of marriage. Psychological incapacity, while recognized under Article 36, remains misunderstood and inconsistently applied. It has become a legal labyrinth that prolongs the agony of spouses and children alike. Supreme Court jurisprudence-particularly in Republic v. Molina, Ngo Te v. Yu-Te, and Tan-Andal v. Andal-has clarified that psychological incapacity is a legal construct, not a medical diagnosis, and may be proven through the totality of evidence. This bill codifies these interpretations and provides concrete examples to demystify the standard and prevent unjust denials of relief. Equally urgent is the need to expand the grounds for annulment. This bill introduces provisions to address evolving issues such as fraudulent marriages, gender transition, changes in sexual orientation that fundamentally alter the marital relationship, and patterns of psychological or economic abuse. These additions acknowledge lived realities that the current Code unjustly excludes. In this light, the continued existence of legal separation as a remedy has also become redundant and counterproductive. Its grounds overlap with those for annulment, yet it offers no definitive legal closure for the parties involved. It merely prolongs conflict and uncertainty, particularly with respect to property, custody, and support. By repealing Title II of the Family Code, this bill abolishes legal separation as a judicial remedy and paves the way for more decisive legal relief. ... *continue reading on the link provided here https://www.congress.gov.ph/house-members/view/?member=L031
Jul 8, 2025
1. Overview of the Legislation Republic Act No. 11954 establishes the Maharlika Investment Fund (MIF), the Philippines' first-ever sovereign wealth fund. Managed by a newly created government-owned corporation called the Maharlika Investment Corporation (MIC), the fund pools state resources to make high-return investments in assets like foreign currencies, corporate bonds, real estate, and major infrastructure projects. 2. The Legislative Fast-Track and Authorship The push for the MIF was heavily driven by the administration's inner circle. House Bill No. 6398 was filed in late 2022 with Speaker Martin Romualdez and Rep. Sandro Marcos acting as primary political drivers. Meanwhile, Marikina Representative Stella Quimbo served as the technical and economic "face" of the bill, aggressively defending its financial structure in the media and during committee hearings. The speed of its passage was unprecedented for a bill of this magnitude: -It took only 17 days for the House of Representatives to deliberate and approve the bill after it was filed. -President Ferdinand Marcos Jr. certified the bill as "urgent," allowing Congress to bypass standard constitutional rules requiring bills to be read on three separate days. -It was signed into law in July 2023, just nine months after its initial proposal, despite massive pushback from civil society, academia, and the business sector. 3. The Pension Controversy and Funding Sources The most explosive controversy during the bill's drafting was its original funding mechanism. The first iterations of the bill mandated that the Government Service Insurance System (GSIS) and the Social Security System (SSS) contribute billions in pension funds to bankroll Maharlika. The public backlash was so severe that lawmakers were forced to scrap this provision. The final law sources its initial ₱125 billion capitalization from: -Land Bank of the Philippines (LBP): ₱50 billion -Development Bank of the Philippines (DBP): ₱25 billion -National Government: ₱50 billion (sourced from Bangko Sentral ng Pilipinas dividends and gaming revenues from PAGCOR). 4. Core Criticisms and "Red Flags" Economists from the University of the Philippines, various business groups (like the Makati Business Club), and political watchdogs opposed the fund due to several critical structural risks: No Budget Surplus: Sovereign wealth funds are traditionally created by countries with massive trade surpluses or excess oil revenues (like Norway or Middle Eastern nations). The Philippines, however, runs a severe budget deficit and carries trillions of pesos in national debt. Critics argue it is fiscally irresponsible to invest borrowed money or drain existing banks to play the stock market. Threat to Public Banks: By pulling ₱75 billion from Landbank and DBP, critics warned that these institutions would have their lending capacities crippled. This directly risks reducing the financial support available to local farmers, micro-entrepreneurs, and agricultural sectors. Corruption and the "1MDB" Comparison: The most enduring criticism is the risk of political patronage and plunder. Opponents frequently drew parallels to Malaysia's 1MDB scandal, where billions of dollars were embezzled from their sovereign wealth fund. Because the MIC Board of Directors is composed entirely of presidential appointees, watchdogs warned that the fund lacks true independence and could be used to bankroll crony projects or "ghost" investments. 5. Current Status The Maharlika Investment Corporation is currently active, with Rafael Consing Jr. appointed as its President and CEO. It has begun looking into its initial investments, recently agreeing to provide a $76.4 million bridge loan to a mining company, though foreign investor interest has reportedly remained lukewarm due to lingering concerns over transparency and safeguards.
Nov 28, 2022
He proposed the abolition of the existing 12-percent value-added tax (VAT) on goods and services through House Bill No. 5119, filed on October 6, 2025. He argued that VAT is regressive — imposing a financial burden on ordinary consumers regardless of their ability to pay — and plans to offset lost revenue through a revised taxation system.
Oct 6, 2025