The House Committee on Overseas Workers Affairs, chaired by Bryan Revilla of the Agimat Party-list, will deliberate on House Bill No. 275, the OFW Remittance Protection Act, in a hearing set for February 24.
Revilla emphasized the urgency of the measure amid global fees that reduce remittance value, citing Bangko Sentral ng Pilipinas data showing that 95% of OFW remittances go to food and basic household needs.
“Hindi na dapat mabawasan pa bawat remittance ipinapadala ng ating mga OFWs sa kanilang pamilya. Literal na dugo’t pawis ang kanilang puhunan dito,” he said.
The lawmaker noted the new 1% U.S. federal tax on certain cash-based international remittances, effective January 1, 2026.
While digital and bank transfers are exempt, many OFWs with limited access could still be affected. With the U.S. accounting for roughly 40% of total inflows, Revilla stressed that the Philippines must act decisively.
HB 275 aims to regulate excessive fees, ensure transparency in exchange rates and charges, penalize abusive financial practices, and expand financial education for OFWs and their families.
“Habang wala pa ang pangmatagalang solusyon sa labor migration, tungkulin nating tiyakin na napoprotektahan ang kita ng ating mga OFWs,” Revilla added.
The upcoming hearing will focus on durable protections against external charges and unfair domestic practices, complementing reintegration and welfare measures such as the proposed Bagong Balikbayan Act.
“Ito ang ating pangako: kapag ang OFW ay nagpadala ng pera, dapat buo itong makarating sa kanilang pamilya. Agad tayong kikilos – para sa kanila at para sa ating ekonomiya,” Revilla declared.