ConCom introduces election-campaign fund where companies, citizens can contribute

By Gillian M. Cortez
THE Consultative Committee to Review the 1987 Constitution (ConCom) said that they have new proposal for the Federal constitution wherein a “democracy fund” in the federal constitution to ensure equality in campaign funding and discourage corruption.
The fund will be under campaign finance reform. “This is a proposed new section under the suffrage, political rights, and political parties which is Article V in the draft of the Constitution,” said ConCom Media Officer Conrado I. Generoso.
The aim of the proposed article is “to regulate political contribution,” Mr. Generoso said. “Malaki ang imbalance natin (Our imbalance is huge),” he added, referring to how small parties and unknown candidates don’t have the same level-playing field as the bigger political parties and more popular candidates in terms of campaign financing.
Other issues the ConCom said will be addressed by the campaign finance reform will be “lack of transparency, campaign overspending, and campaign financing as one root of corruption.”
The democracy fund will be a depository fund for individuals and/or companies who want to contribute money for campaign funding. “It will be managed by the Commission on Elections(Comelec) and it will be audited by the Commission on Audit,” said Mr. Generoso.
“The idea behind the democracy fund is that it will be a voluntary contribution to political parties and presidential candidates,” said Julio C. Teehankee, chairman on the Subcommittee on Political Reforms and Levelling the Political Field.
The proposed federal constitution will also legalize funding by companies on candidates and political parties. “This is banned under the current corporation law. They’re banned from contributing but we know for a fact, they do. So might as well recognize that they do and make it legal,” Mr. Teehankee said. “At least now, we have a transparent way of knowing how much or what the benchmark figure was contributed and to whom. It will only be the Comelec and the BIR (Bureau of Internal Revenue) who would know.”
Corporations can contribute between P10,000 to P3 million. A regular citizen, on the other hand, can contribute between P10,000 to P100,000. Companies and citizens alike who contribute to the democracy fund will be rewarded credit against tax dues in the taxable year following the elections.
“This is patterned by the practice in the United States. In (the) United States, taxpayers are given the option in their IRS form whether they want to contribute to an election fund,” Mr. Teehankee explained.