Negosyante News

October 16, 2024 8:19 am

House Proposes P39.8 Billion Aid for Minimum Wage Earners in 2025 Budget

The House of Representatives has allocated P39.8 billion for the Ayuda para sa Kapos ang Kita Program (AKAP) in the proposed 2025 national budget, marking a significant increase from the current P13 billion allocation. This adjustment comes as part of the P6.325 trillion proposed budget for 2025, and according to House appropriations chairman Zaldy Co, reflects public demand for enhanced support for low-income earners.

AKAP provides cash assistance to workers earning P21,000 or less per month. Co emphasized that the increased funding aims to help minimum wage earners who are vulnerable to economic hardships like job loss, inflation, and other crises.

This allocation is part of a larger P292 billion in social programs, which also includes funding for initiatives like the Assistance to Individuals in Crisis Situations (P39.8 billion), the Sustainable Livelihood Program (P3.4 billion), and the Tertiary Education Subsidy under the Commission on Higher Education (P30 billion).

The proposed 2025 budget is currently under Senate review and may either be approved as is or modified through the Bicameral Conference Committee before heading to President Ferdinand “Bongbong” Marcos, Jr. for approval. The President retains the power to veto specific budget provisions before signing the final bill into law.

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