{"id":15369,"date":"2024-06-21T08:31:48","date_gmt":"2024-06-21T08:31:48","guid":{"rendered":"https:\/\/www.getufm.co.ke\/?p=15369"},"modified":"2024-06-21T08:31:49","modified_gmt":"2024-06-21T08:31:49","slug":"finance-bill-2024-proceeds-to-committee-stage-following-parliamentary-vote","status":"publish","type":"post","link":"https:\/\/www.getufm.co.ke\/?p=15369","title":{"rendered":"Finance Bill 2024 Proceeds to Committee Stage Following Parliamentary Vote"},"content":{"rendered":"\n
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The Finance Bill 2024 has advanced to the Committee Stage after a significant voting exercise in Parliament on Thursday, April 20. A total of 204 Members of Parliament voted in favor of moving the bill forward following its Second Reading, while 115 legislators opposed the motion. If the opposition had secured the majority, it would have ended the bill’s progression in Parliament.<\/p>\n\n\n\n

Committee Stage Details<\/h3>\n\n\n\n

The Committee Stage, scheduled for Tuesday, June 25, will see the House transformed into a committee-like session. Unlike regular sessions usually chaired by Speaker Moses Wetangula, this session will be led by Deputy Speaker Glady’s Shollei or another member of the Speaker’s Panel. During this stage, MPs will meticulously review the bill clause by clause, voting on amendments recommended by the Finance Committee.<\/p>\n\n\n\n

MPs had until Thursday, June 20, to submit their proposed amendments to the clerk. Each amendment will be proposed and voted on individually. For instance, a member may propose the removal of the Eco Levy from the bill. If such an amendment is passed, it becomes part of the bill. After the Committee of the Whole House concludes its review, the sponsor of the bill will move a motion for the Chairperson to report the committee’s considerations to the House. If the committee cannot finish its review, a motion will be moved to report the progress made thus far.<\/p>\n\n\n\n

Next Steps After Committee Stage<\/h3>\n\n\n\n

Reading Stage<\/strong><\/p>\n\n\n\n

After the Committee of the Whole House concludes, the chairperson will report the activities undertaken. A Motion for Agreement with the report of the committee will then be moved, seconded, and put to a vote. This motion seeks approval of the House for the form in which the committee has considered the bill. Following this, the bill will proceed to the Third Reading.<\/p>\n\n\n\n

Third Reading<\/strong><\/p>\n\n\n\n

The Third Reading is the final stage in Parliament, primarily involving the passing of the bill. Once passed, the bill will be submitted to President William Ruto for assent. Upon the President’s assent, the bill will become the Finance Act 2024, with tax proposals taking effect on July 1, 2024. Should the Act include tax changes affecting fuel, the Energy and Petroleum Regulatory Authority (EPRA) will announce new pump prices on June 30.<\/p>\n\n\n\n

Protests and Public Opinion<\/h3>\n\n\n\n

The bill has sparked widespread protests across major towns in Kenya, including Nairobi, Kisumu, Nyeri, and Eldoret, with police using teargas to disperse demonstrators in some areas. These protests highlight significant public opposition to the proposed legislation, which is under intense scrutiny and debate.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Finance Bill 2024 has advanced to the Committee Stage after a significant voting exercise in Parliament on Thursday, April 20. A total of 204 Members of Parliament voted in favor of moving the bill forward following its Second Reading, while 115 legislators opposed the motion. If the opposition had secured the majority, it would […]<\/p>\n","protected":false},"author":6,"featured_media":15370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12,3,14],"tags":[],"class_list":["post-15369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-political-news"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/www.getufm.co.ke\/wp-content\/uploads\/2024\/06\/kuria-kimani.jpg","_links":{"self":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts\/15369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15369"}],"version-history":[{"count":1,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts\/15369\/revisions"}],"predecessor-version":[{"id":15371,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts\/15369\/revisions\/15371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/media\/15370"}],"wp:attachment":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}