Feeling much better so I exercised upon waking up at 9:00 AM. But the light-headedness is still there and sudden swift movements of the head specially to the right brings in a wave of dizziness.
Met with the ways and means committee of the House under Cong. [Natalio] Castillo and the BIR [Bureau of Internal Revenue] Commissioner ([Misael] Vera) and worked out a compromise on the corporate income tax which I want to be paid quarterly but I approved a plan to have the BIR Commissioner authorized to stagger accounting periods and payments of income taxes of various corporations (a total of 6,500 but the big bulk of taxes is paid by about 1,200) so that the level of income of the government will be kept steady.
Got the Senate and House Ways and Means Committee to meet and work out their differences.
Saw Vincent Recto on oil drilling of the Oriental Oil and Petroleum.
Met with Gens. [Rafael] Ileto and [Romeo] Espino on the postponement of the court-material in the Jabidah case.
Then Fiscal Castillo of Rizal and City Attorney Cortes of Quezon City on the attempt of the Crispin Reyes group to extort money from the reparations commissioners.
Official Gazette for July 17, 1970: President Marcos worked most of the day on state papers with only-one important meeting, that with members of the House ways and means committee headed by Rep. Natalio P. Castillo. The committee called on him in the morning to discuss the Corporate Income Tax bill, to which an alternate measure was proposed by Internal Revenue Commissioner Misael Vera, which would embody the provision that business corporations be (grouped into specific categories for the purpose of systematizing the payment of taxes. The conference also took up other pending administration measures in Congress, with an eye to speeding up congressional action on them.
Among those at the meeting were Reps. Artemio Loyola of Davao del Sur, Roberto Montelibano of Negros Occidental, Felipe Almazan of Kalinga-Apayao, Pablo Roman of Bataan, Lorenzo Sarmiento of Davao del Norte, Andres Cosalan of Benguet, Mariano Pefiaflorida of Iloilo, Roberto Diokno of Batangas, Herminio Teves of Negros Oriental, Gaudencio Beduya of Cebu, Roberto Sabido of Albay, Jose M. Alberto of Catanduanes, Marcelino Veloso of Leyte and Jose Neri of Camiguin.
The rest of his working day was devoted to official capers, the volume of which necessitated a proxy for a speech the President had earlier set at the blessing and unveiling rites in Muntinglupa prisons, in connection with the commemoration of political prisoners who died at the national penitentiary during World War II. Secretary of National Defense Juan Ponce Enrile read the President’s speech which called on Filipinos who value their freedom to stand fast against the encroachment of an alien ideology.
The President remained at his desk through the evening. He had no other visitors on his schedule.
This afternoon I met with Greg[orio] Licaros on the 23 banks suspended from discounting and lending operations as well as on the plan to allow dollar accounts which will be inviolate.
Then met Eng. Agonias, Rudy Cuenca and Valdez of CDCP [Construction and Development Corporation of the Philippines]. They have organized a mining company which I encourage.