Poor families receive tax reform subsidy.
The Department of Social Welfare and Development (DSWD) has started releasing P200 in monthly cash subsidy to an initial 1.8 million households to help families cope with rising prices of basic commodities following the implementation of the Tax Reform for Acceleration and Inclusion or TRAIN Law.
The DSWD said most of the recipients are also beneficiaries of the Pantawid Pamilyang Pilipino Program or 4Ps.
The cash subsidy, which is also known as the unconditional cash transfer, will be given on a yearly basis to at least 10 million households, DSWD officer-in-charge Undersecretary Emmanuel Leyco said yesterday.
The subsidy will increase to P300 in 2019.
'Tax reforms have caused economic shock among the poorThe...scheme was created by the TRAIN Law,' Leyco said.
'We are confident that the beneficiaries will use their subsidies wisely as various studies reveal that 98 percent of poor families spend government cash grants on food and basic commodities,' he said.
At least three million of the beneficiaries of the cash subsidy are indigent senior citizens while 2.6 million are the country's poorest families as identified by the DSWD's National Household Targeting System for Poverty Reduction or Listahanan. The rest are 4Ps beneficiaries.
Leyco said Landbank released around P4.3 billion for cash grants given to 4Ps beneficiaries and cash subsidy.