The Maharlika Investment Fund (MIF) Act, which was certified urgent by President Ferdinand Marcos Jr., and two other enrolled bills were signed by Senate President Juan Miguel Zubiri in Washington, DC, on Wednesday, paving the way for its transmittal to the Palace.
Senate Deputy Majority Leader JV Ejercito on Tuesday said only the signature of Zubiri was needed for the MIF Bill to be sent to House Speaker Martin Romualdez for his signature, before being transmitted to Malacanang.
The President can then either sign the bill to become a law or veto it.
Earlier, Senate Minority Leader Aquilino “Koko” Pimentel called on Mr. Marcos to revoke the investment measure.
The two other enrolled bills signed by Zubiri while in the US were the Estate Tax Amnesty Extension Act bill, and the bill recognizing Baler, Aurora, as the birthplace of Philippine surfing.
Zubiri signed the three enrolled bills at the Philippine Embassy in Washington DC, where he is presently on a working visit, and holding meetings with members of the United States Congress and US government agencies.
Senate Secretary Renato Bantug, who was part of the Senate contingent for Zubiri’s working visit, brought along the enrolled copies to Washington.
“The Maharlika bill is a priority measure, and the Estate Tax Amnesty Extension is very time-sensitive,” said Zubiri, adding that many are waiting for these bills.
“Fortunately, he said the enrolled copies were already prepared by the time Sec. Bantug was set to join us in Washington,” Zubiri said. “So he was able to bring them along with him, instead of letting them sit in the Senate waiting for my return, and I was able to sign them on Philippine soil, here in the embassy.”
“This was at no expense to the Philippine government because Secretary Bantug was really with the Senate delegation,” clarified the Senate leader.
The Estate Tax Amnesty program expired on June 14, 2023, this its Extension Act will push the period of availment under the program by two years, or up to June 14, 2025. Malacañang had certified it as an urgent measure.
Ambassador Jose Manuel Romualdez and Senator Francis Tolentino, who are part of Zubiri’s working visit, witnessed the signing.
“We have a few more days of meetings here in Washington, but with these enrolled bills already signed, we can send them out straightaway upon our return,” said Zubiri.