<\/p>\n
THE House of Representatives on Wednesday night, March 20, approved on third and final reading Resolution of Both Houses (RBH) No. 7 <\/strong>which seeks to amend the restrictive economic provisions of the 1987 Constitution.<\/strong><\/p>\n <\/p>\n <\/p>\n The House voted 288 yes, 8 no, with 2 abstentions to pass the landmark measure on third and final reading.<\/strong><\/p>\n <\/p>\n <\/p>\n Being a measure about constitutional revision, RBH No.7 needed a three-fourths vote–or roughly 232 affirmative votes–for it to be passed. <\/strong><\/p>\n <\/p>\n <\/p>\n The amendment proposals are contained in RBH No. 7 principally authored by Speaker Ferdinand Martin G. Romualdez, Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio Gonzales Jr., Deputy Speaker and Quezon Rep. David Suarez, Majority Leader Manuel Jose Dalipe, Senior Deputy Majority Leader and Ilocos Norte Rep. Ferdinand Alexander Marcos, and other House leaders.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThe proposed economic amendments to the Constitution are the last piece in the puzzle of investment measures the administration of President Ferdinand Marcos Jr. has been taking to sustain our economic growth, create more job and income opportunities, and in general, make life better for Filipinos,\u201d Romualdez said.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThese changes, if ratified by our people in a plebiscite, will greatly boost these measures, including our President\u2019s investment missions abroad, which have generated actual investments and pledges in the billions of dollars and created thousands of jobs,\u201d he added.<\/strong><\/p>\n <\/p>\n <\/p>\n Romualdez said the approval by Congress and by the people of the proposed amendments \u201cwill send a powerful message to foreign investors and the international community\u201d that the Philippines is willing to fully open for business and for investments.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThis is more than just an economic imperative; it is a clarion call to action that resonates with the aspirations of the Filipino people for a more prosperous and secure future,\u201d he said.<\/strong><\/p>\n <\/p>\n <\/p>\n Under RBH7, the proposed changes are on the grant of legislative franchises to and ownership (60-40) of public utilities in Article Xll, ownership of basic educational facilities (60-40) in Article XlV, and ownership of advertising firms (70-30) in Article XVl.<\/strong><\/p>\n <\/p>\n <\/p>\n The suggested principal amendments are the insertion of the phrase, \u201cunless otherwise provided by law,\u201d which would empower Congress to lift or relax present economic restrictions in the nation\u2019s basic law, and the addition of the qualifier \u201cbasic\u201d in Article XIV.<\/strong><\/p>\n <\/p>\n <\/p>\n It also restates the provision of the Constitution that Congress may propose amendments \u201cupon a vote of three-fourths of all its members.\u201d<\/strong><\/p>\n <\/p>\n <\/p>\n RBH No. 7 replicates RBH No. 6, introduced by Senate President Juan Miguel Zubiri and Senators Loren Legarda and Juan Edgardo Angara.<\/strong><\/p>\n <\/p>\n <\/p>\n According to the House Speaker, he is hoping the Senate would pass its version soon.<\/strong><\/p>\n <\/p>\n <\/p>\n The approval of RBH No. 7 showed the House of Representatives has de<\/strong>livered on its commitment to approve the measure before the Holy Week recess.<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" THE House of Representatives on Wednesday night, March 20, approved on third and final reading Resolution of Both Houses (RBH) No. 7 which seeks to<\/p>\n","protected":false},"author":1,"featured_media":4622,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,17],"tags":[],"_links":{"self":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/4621"}],"collection":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/comments?post=4621"}],"version-history":[{"count":1,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/4621\/revisions"}],"predecessor-version":[{"id":4623,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/4621\/revisions\/4623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media\/4622"}],"wp:attachment":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media?parent=4621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/categories?post=4621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/tags?post=4621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}