In 2007, Recto lost his Senate reelection bid because, as many analysts believed, he had authored the unpopular EVAT (Expanded Value Added Tax) law. In July 2008 he was appointed to head the National Economic and Development Authority (NEDA) in the Arroyo administration, but resigned from his position in August 2009 in preparation for another run for the Senate in the 2010 elections.[1]
Recto comes from a political family. His grandfather, the late nationalist and statesman Claro M. Recto, was a Senator for several terms. His father, Atty. Rafael Recto (d. 2008), was an Assemblyman during the Regular Batasang Pambansa while his older brother, Ricky Recto, was the former vice governor of the province of Batangas.
His late mother is Carmen Gonzalez-Recto (d. 2013). His sister, Plinky Recto, is an actress and TV host.
Education
Recto acquired a Bachelor of Science in Commerce at the De La Salle–College of Saint Benilde in 1989. In 1990, he entered the College of Public Administration of the University of the Philippines Diliman to study Master of Public Administration, but only earned 36 academic units, hence unable to finish the graduate degree. Recto later took a Strategic Business Economics Program (SBEP) at the University of Asia and the Pacific in 1993, where he acquired a Certificate in Business Economics (CBE).[2]
Recto holds the distinction of being the youngest elected member of the House of Representatives during the 9th Congress. He also holds an unprecedented record in the congressional election history of Batangas for winning in all precincts, barangays, and municipalities, together with Lipa City, in the 1995 and 1998 elections. He garnered 98% of the votes cast in those two elections in the 4th District of Batangas.
During his three terms (from 1992 to 2001) as a member of the House of Representatives, most of his legislative measures enacted into law deal with economic reforms and poverty alleviation, among which are the Social Reform and Poverty Alleviation Act; the Philippine Economic Zone Law; Amendment to the Special Economic Zone Law; the Retail Trade Liberalization Law; Regional Headquarters Law; and the Comprehensive Tax Reform Law.
First term in the Senate: 2001–2007
Recto was elected to the Senate in 2001, becoming the youngest Senator of the 12th Congress at the age of 37. In the Senate, he chaired the Committees on Ways and Means and on Trade and Industry.
He was co-chairman of the Congressional Oversight Committees on the Proper Implementation of the National Internal Revenue Code (NIRC) and on the Official Development Assistance (ODA). He was also chairman of the Accounts committee.
During his first six-year term as Senator, he was largely responsible for the passage of laws with positive impact to consumers, small entrepreneurs, workers and industry.
National Economic and Development Authority: 2008–2009
President Gloria Macapagal Arroyo, on July 23, 2008, named him as the new director-general of National Economic and Development Authority, replacing Augusto Santos, acting NEDA chief.[5] On August 11, 2009, he resigned as NEDA secretary and Presidential Adviser for Economic Planning, in preparation for another run for Senate in the 2010 election.[1]
Second term in the Senate: 2010–2016
He was proclaimed as one of the winning senatorial candidates of the 2010 Senate elections.
On July 22, 2013, at the start of the first day of the 1st Regular Session of the Senate for the 16th Congress, Recto was elected Senate President Pro-Tempore, the second highest post in the Senate and was also the Chairman of the Senate Committee on Science and Technology and member of the bicameral Commission on Appointments.
On the opening day of the 17th Congress, July 25, 2016, Senator Francis Escudero nominated Recto for the presidency. Senator Antonio Trillanes IV seconded Escudero's nomination. During nominal voting, Koko Pimentel and Recto voted for each other. After losing the vote, Recto automatically became the Minority Leader. He was joined by Escudero and Trillanes in the minority bloc.[6] Recto, in his acceptance speech for the post, vowed that the minority would cooperate with the Duterte administration's plans if these serve "the public interest." However, he said, they would be "duty-bound" to oppose the majority's agenda if it "hurts the nation."[7]
When the Senate underwent a reorganization on February 27, 2017, Recto, after getting 17 votes, was declared Senate President Pro Tempore, replacing Franklin Drilon.[8]
For the 17th Congress, he authored the following laws: Murang Kuryente Act, Pantawid Pamilyang Pilipino Program Act, Child Safety in Motor Vehicles Act, Universal Health Care Act, Philhealth Coverage for PWDs, National Integrated Cancer Control Act, Tax Amnesty Act, The New Central Bank Act, Lifting Quantitative Import Restriction on Rice, Social Security Act, First 1000 Days of Life, Universal Access to Quality Tertiary Education, Comprehensive National Feeding Program, Free Irrigation Service, Ease of Doing Business/Expanded Anti-Red Tape Act, Free Internet Access in Public Places, Extending the Validity of Philippine Passport and Driver's License, National ID System, and Designating Casinos as Covered Persons under the AMLA.
Recto kept his post as Senate President Pro Tempore in the 18th Congress.[9]
Upon being term-limited in the Senate, in 2022, Recto ran for a comeback to the House of Representatives, this time at the 6th district of Batangas, which consists of only the city of Lipa.[11][12] During the campaign, he had endorsed the presidential bid of Manila Mayor Isko Moreno.[13] He then won the election unopposed,[14] succeeding his wife Vilma Santos who chose not to seek reelection.[15]
On January 11, 2024, his 60th birthday, Recto was appointed by President Bongbong Marcos as Secretary of Finance.[17] He took his oath of office on January 12, 2024, succeeding Benjamin Diokno.[18]
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