People’s Fund

Senate Bill No. 699: People’s Fund Act

At a time when public funding is under intense scrutiny, when the Filipino people are crying out for full transparency and accountability, and when government is being called on to implement massive reforms, how can we ensure that it is the PEOPLE of the Philippines who ultimately have a say on where public funds are being spent?

The People’s Fund seeks to revolutionize public budgeting and funding by giving the taxpayers of the Philippines the choice on where a portion of their hard- earned money should go.

It allows an individual taxpayer to allocate five percent (5%) of his or her income tax to be allocated for any of the following:

  1. An accredited charity or civil society organization;
  2. A priority national or local government project;
  3. A legitimate political party.

Under this bill, the Bureau of Internal Revenue (BIR) shall establish the mechanism that would enable individual taxpayers to select beneficiaries upon filing of their annual income tax returns.

Meanwhile, an inter-agency committee led by the Department of Budget and Management (DBM) shall determine the eligibility of respective organizations, and shall likewise set the conditions, guidelines, and reporting requirements for the receipt and use of the funds by the benefitting organizations.

This gives the Filipino public greater control over how their monies are spent, ultimately empowering Filipinos to support institutions and initiatives that they deem worthy.

In view of the foregoing ,the approval of the bill is earnestly sought.

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Bam Files “People’s Fund Bill”

In light of his earlier pronouncements regarding the Priority Development Assistance Fund (PDAF) and the need to give taxpayers greater control over public funds, Senator Bam Aquino has filed the People’s Fund Bill.

The People’s Fund Bill creates mechanisms for an individual taxpayer to allocate five percent (5%) of his or her income tax for any of the following: (1) an accredited charity or civil society organization; (2) a priority national or local government project; or (3) a legitimate political party.

Under this bill, the Bureau of Internal Revenue (BIR) shall establish the mechanism that would enable individual taxpayers to select beneficiaries upon filing of their annual income tax returns.

Meanwhile, an inter-agency committee led by the Department of Budget and Management (DBM) shall determine the eligibility of respective organizations, and shall likewise set the conditions, guidelines, and reporting requirements for the receipt and use of the funds by the benefitting organizations.

“The people’s clamor for transparency, accountability, and good governance is growing louder and stronger. Government must heed the call of the people and institutionalize mechanisms that will ensure greater citizen involvement on how public funds are being spent,” Aquino stresses.

“To be clear, hindi ito bagong buwis na ipapataw sa mga tao.  Ang People’s Fund ay manggagaling sa binabayad na ng mamamayan na tax kada taon.  Ang pinag-iba lang ay merong kapangyarihan ang mga taxpayer na piliin kung saan pupunta ang porsyento ng perang ito.  Ginagawa na ito sa ibang mga bansa; panahon na, na gawin ito sa Pilipinas.”

“After all,” Aquino continues, “our estimate of the People’s Fund is around ten billion pesos.  Mas maliit pa rin sa papalitan niyang PDAF natwenty-five billion pesos.  Sa kadulu-dulahan, nakatipid pa rin ang gobyerno ng malaking halaga na ngayo’y napupunta sa pork barrel.”

Photo source: Christina Mendez

“People’s Impatience a Good Sign” — Bam

Senator Bam Aquino says that “the people’s impatience” toward corruption and impunity is “a good sign,” citing the “Million People March” that mobilized thousands of Filipino citizens in different parts of the country on Monday.

The “Million People March” was born out of highly publicized “pork barrel scam” that amounted to at least P10 billon and allegedly involved dozens of lawmakers.

“The people’s impatience on this issue is a positive development for reform-minded public servants,” Sen. Aquino points out.

“Ang taumbayan ang nag-uudyok sa mga opisyales na ipagpatuloy at isatupad ang mga repormang kinakailangan natin. Sila ang lakas namin upang gawin ang mga bagay na magdadala ng pagbabago sa mga baluktot na sistema, at magsusupil sa mga tiwali na nagnakaw sa bayan,” he adds.

The young Aquino, a reform advocate with a long history of youth and civic leadership, likewise calls on fellow lawmakers and colleagues in government to “heed the people’s call” and use public funds “to truly empower the people instead of enriching a select few.”

“People’s Fund” instead of PDAF

Toward this end, Sen. Aquino is filing “The People’s Fund,” a bill that aims to give taxpayers more direct control over public funds.

The People’s Fund “seeks to revolutionize public budgeting and funding by giving the taxpayers of the Philippines clear and concrete choices on where their money should go.”

It provides a mechanism for five percent (5%) of an individual’s income tax to be allocated to either of the following: (a) an accredited charity or civil society organization; (b) a national or local priority government project; or (c) a legitimate political party.

Sen. Aquino had said regarding the bill, “People are sick and tired of seeing their taxes go to waste when precious money could instead be channeled toward initiatives that truly benefit millions of Filipinos. It’s time for the PDAF to go and bring the power back to the people through the People’s Fund.”

Photo source: Yahoo Philippines

Bam Lauds PNoy Call to Abolish Pork

 

Senator Bam Aquino lauds President Benigno Aquino III’s statement calling for the abolition of the Priority Development Assistance Fund (PDAF), otherwise known as the “pork barrel,” saying this is a necessary first-step to urgent reforms.

“Tayo po ay natutuwa dahil pinakinggan ni PNoy ang hiling ng taumbayan. Panahon na talaga upang buwagin ‘yang PDAF.”

Earlier on Friday, Sen. Aquino called for the abolition of the PDAF and proposed in its stead a “People’s Fund.”

The People’s Fund is meant to “give the Filipino people greater control over where and how public funds are spent.”

“We’ve already taken a lot of steps toward good governance, but now it’s time to overhaul system that’s been corrupted,” the younger Aquino says. “Abolishing the PDAF and instituting reforms is yet another step in transforming governance and keeping the path to tuwid na daan. There’s no better time for it than now.”

Abolish Pork, Set Up People’s Fund — Bam

 Senator Bam Aquino, who earlier suspended the use of his office’s Priority Development Assistance Fund (PDAF) “until charges are filed” against the perpetrators of the P10B “PDAF scam”, now calls for the abolition of the pork barrel through an innovative measure. He proposes, instead, for a “People’s Fund” to be set up, to give Filipino taxpayers greater control over where a portion of their income taxes should go.

The People’s Fund “seeks to revolutionize public budgeting and funding by giving the taxpayers of the Philippines clear and concrete choices on where their money should go.”

It provides a mechanism for five percent (5%) of an individual’s income tax to be allocated to either of the following: (a) an accredited charity or civil society organization; (b) a national or local priority government project; or (c) a legitimate political party. 

“To be clear, hindi ito bagong buwis na ipapataw sa mga tao.  Ang People’s Fund ay manggagaling sa binabayad na ng mamamayan na tax kada taon.  Ang pinag-iba lang ay merong kapangyarihan ang mga taxpayer na piliin kung saan pupunta ang porsyento ng perang ito.  Ginagawa na ito sa ibang mga bansa; panahon na, na gawin ito sa Pilipinas.”

“After all,” Aquino continues, “our estimate of the People’s Fund is around ten billion pesos.  Mas maliit pa rin sa papalitan niyang PDAF na twenty-five billion pesos.  Sa kadulu-duluhan, nakatipid pa rin ang gobyerno ng malaking halaga na ngayo’y napupunta sa pork barrel.”

Under the bill, the Bureau of Internal Revenue (BIR) shall establish the mechanism that would enable individual taxpayers to select beneficiaries upon filing of their annual income tax returns. Meanwhile, an inter-agency committee led by the Department of Budget and Management (DBM) shall determine the eligibility of organizations and initiatives, and shall likewise set the conditions, guidelines, and reporting requirements for the receipt and use of the funds by the benefitting organizations.

“People are sick and tired of seeing their taxes go to waste when precious money could instead be channeled toward initiatives that truly benefit millions of Filipinos. They are sick of the corruption that has been perpetuated by the current PDAF system. It’s time for the PDAF to go and bring the power back to the people through the People’s Fund,” Aquino adds.

 

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