8 senators poorer; Poe declares P59M cut

Believe it or not, but eight senators led by Grace Poe declared getting poorer in 2014 compared to 2013 based on their latest Statements of Assets, Liabilities and Net Worth (SALN).

Poe declared losing the most (P59 million), followed by Sergio Osmeña (P13.6M), Miriam Defensor-Santiago (P13.6M), Jinggoy Estrada (P2M), Francis Escudero (P2M), Loren Legarda (P1.7M), Teofisto Guingona III (P1.56M) and Nancy Binay (P1.2M).

But the losses were mainly due to new Civil Service rules on the filing of SALNs, said GMA News in a report.

Poe listed assets of P126.955 and a total liability of P37.9 million. Her office said her worth went down to P89 million when they implemented the Civil Service rule on SALN.

That rule states that “in case of properties received gratuitously, e.g. donation or inheritance, no acquisition cost shall be declared.”

Senator Cynthia Villar remains the lone billionaire in the Senate with a declared net worth of P1.626 billion, which saw an increase of P357 million. She listed no liabilities.

Other senators who increased their net worth were Ferdinand Marcos, Jr. (by P67M) and Ralph Recto (P25M). -end-

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