House passes PHP1.5T CURES bill to curb unemployment

On Friday, the House of Representatives passed the PHP1.5-trillion COVID-19 Unemployment Reduction Economic Stimulus (CURES) Act on third reading with 210 votes.

The bill aims to fund infrastructure projects over three years in key areas such as health, education, agriculture, local roads, and livelihood to address unemployment caused by the pandemic.

Despite approval, the executive branch has expressed doubts about funding without new revenue sources, and hopes for a reduced package during bicameral session.

Unemployment reached a record high of 17.7% in April, equivalent to around 7.3 million jobless Filipinos.