MANILA, Philippines - A lawmaker is seeking to increase the limits set by law on campaign expenditures.
Camarines Sur Rep. Salvio Fortuno authored House Bill 5241 or "An Act increasing the authorized expenses of candidates and political parties, amending for the purpose Section 13 of Republic Act No. 7166, entitled, 'An Act providing for synchronized national and local elections and for electoral reforms, authorizing appropriations therefore, and for other purposes.'"
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The lawmaker noted that the purchasing power of the peso has eroded in the prevailing economic environment.
"It is worth noting that the purchasing power of the Philippine peso has continuously diminished from the time R.A. 7166 took effect in 1991 up to the present due to numerous economic factors," Fortuno said.
Fortuno cited the disqualification case of Gov. E.R. Ejercito in Laguna who was ousted for election overspending.
The Commission on Elections disqualified Ejercito on the basis of the existing law that a candidate is authorized to spend only P3 for every voter registered in the constituency where the certificate of candidacy is filed.
House of Representatives Congressional Policy and Budget Research Department Acting Director Romulo Emmanuel Miral Jr. explained that based on the Consumer Price Index, the value of the Philippine peso in 1991 was equivalent to P3.41 in 2013. The equivalent of the peso in 2013 is equivalent to P0.29 in 1991.
"On the basis of the foregoing computation, the authorized campaign expenditure for the position of President and Vice-President should be from P10.00 to P34.10, for other candidates from P3.00 to P10.23 and for political parties from P5.00 to P17.05," Fortuno said.
The Camarines Sur solon noted that there is a need to increase the limit to meet the demands of the current time, considering economic factors.
Under the bill, the adjustment would be as follows: for President and Vice-President, from P10.00 to P40.00; for other candidates from P3.00 to P15.00 and for political parties from P5.00 to P20.00.
The proposed measure is now pending with the House Committee on Suffrage and Electoral Reforms.