The congressional bicameral conference committee will meet a second and, probably, the last time today to align conflicting provisions of the 2023 General Appropriations Bill.

Composed of 31 senators and House members, the committee will try to reconcile differing versions of the proposed P5.268 trillion budget of the Marcos administration.

The committee will meet anew at the Manila Golf and Country Club in Makati City where the first bicameral meeting was held on 25 November.

Congress is racing against the clock to submit the GAB for the President's signature before the legislative Christmas recess starting on 17 December.

Failure by Congress to ratify the GAB or by the President to sign it before yearend would result in a reenacted budget or the adoption of the 2022 General Appropriations Act for next year's expenditures.

The bicameral committee is tackling Senate amendments totaling P215 billion, representing programmed allocations against the P77 billion institutional changes adopted by the House.

A reconciled GAB would be sent to the plenary sessions of the Senate and House for ratification before being brought to the Palace for the President's signature.

House committee on appropriations chair Zaldy Co and Senate Finance committee head Sonny Angara earlier said the ratified GAB should be in the hands of the President before Christmas, thereby giving him enough time to review and sign it before the New Year.