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 this bill is earnestly sought.

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