Osmeña, chairman of the Senate committee on finance, said the House still has to pass the proposed budget on third reading because of the chamber’s reorganization after the Nov. 13 transmittal of the articles of impeachment against President Estrada by then Speaker Manuel Villar.
Osmeña noted that while his House counterpart, Rizal Rep. Gualberto Duavit, was not replaced as appropriations committee chairman, many of Duavit’s vice chairmen were replaced.
"I was informed that the House could approve the proposed budget on Dec. 10 at the earliest. The House may not immediately transmit the approved budget to the Senate because there might be some amendments still to be incorporated into the text," he said.
It has been the practice in the House to approve the budget on third and final reading, while naming a select committee to receive individual amendments by congressmen.
Osmeña said he would review the budget very carefully, especially in the light of the fall of the peso and the economic slowdown brought about by the political crisis.
Earlier, Osmeña said he would reduce the Malacañang proposal by at least P50 billion, as he expressed doubts that the Bureau of Internal Revenue and the Bureau of Customs could really meet their revenue targets.
Meanwhile, Osmeña urged local government units to be more enterprising in generating more revenues.
He noted that most LGUs depend on their internal revenue allotment for their operations and salaries of personnel.
"The Local Government Code gives LGUs the power to tax. They should exercise this power to be truly autonomous, instead of continually depending on the IRA," he said.
He said LGUs would never be truly autonomous if they could not cut this dependence on the IRA.