Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

House committee approves 2026 national budget bill

PHILSTAR FILE PHOTO

By Kenneth Christiane L. Basilio, Reporter

A House of Representatives committee on Tuesday approved the P6.793-trillion budget bill for 2026, bringing the massive spending plan to the floor after 37 days of committee-level vetting.

The House Appropriations Committee adopted the budget tweaks made by a sub-committee on Monday, which redirected about P255 billion in flood control funds originally allocated for the Department of Public Works and Highways (DPWH) mostly towards the Education, Health and Social Welfare departments.

“We commit that we only changed the P255 billion… We didn’t hide anything, we didn’t alter anything,” Nueva Ecija Rep. Mikaela Angela B. Suansing, who heads the House Appropriations Committee, told lawmakers.

This year’s budget process saw major changes after Ms. Suansing introduced sweeping reforms aimed at boosting budget transparency, following last year’s controversy over alleged insertions in the spending plan. Amendments to the budget bill were previously handled by an opaque “small committee” consisting of select congressmen.

The budget panel added P26.5 billion to the Education department’s budget, with P22.5 billion earmarked for new classroom construction and P1.88 billion for school feeding programs, among others.

Lawmakers also hiked the Health department’s budget by P29.28 billion, with P26.73 billion going towards the agency’s medical assistance program for poor patients and P2.4 billion to fund the construction of key government hospitals nationwide.

About P60 billion were channeled to to Philippine Health Insurance Corp. (PhilHealth), serving as the government’s subsidy for the state health insurer.

Congressmen revised the proposed budget for the Social Welfare department, adding P35.91 billion. Broken down, P32.06 billion would be allotted for emergency cash aid to poor Filipinos and P3 billion for its sustainable livelihood program.

They also rechanneled P39.36 billion to the Agriculture department’s proposed budget. This included P8.89 billion for farm-to-market roads, P8.69 billion for post-harvest facilities and P7 billion for P7,000 cash aid to farmers and fisherfolk.

Ms. Suansing last month said lawmakers expect the budget bill to clear second reading by October, and third reading when sessions resume in November.

Congressmen have 10 days to pass the spending plan before Congress adjourns on Oct. 3 for a month-long break, set to resume on Nov. 9.

    You May Also Like

    Stock Markets

    Pedestrians along the Estrella-Pantaleon Bridge are dwarfed by the towering buildings in Makati City, Dec. 5, 2022. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE Department...

    Stock Markets

    The logo of J.P. Morgan is seen in Zurich, Switzerland July 8, 2021. — REUTERS/ARND WIEGMANN By Bettina Faye V. Roc, Banking Editor THE...

    Finance

    A new player in football talent management has entered the game. M+C Saatchi Football, co-founded by former England and Liverpool midfielder Jamie Redknapp, officially...

    Finance

    Tesla shares have surged almost 50% since the company was rocked by a very public clash between CEO Elon Musk and US President Donald...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.