Recto proposes P1 trillion stimulus package

Senator Ralph Recto has proposed a "one-time, big-time" economic stimulus package to combat the economic fallout from the COVID-19 pandemic.

He argued that the stimulus should be comprehensive and bold, comparable to the scale of the pandemic itself, rather than fragmented measures.

Recto favors a multi-year omnibus package over one funded piecemeal or through loans, likening it to a 'medicine cabinet approach'.

A large, consolidated stimulus, he believes, will prevent repetitive legislative actions for new spending authorizations.

He emphasized that such a plan would convey a message of long-term commitment and offer hope to the nation during this crisis.

Recto previously stated that the economic stimulus should amount to at least P1 trillion, comparing smaller measures to using a fire extinguisher for a forest fire.