Sigh of relief on bankruptcy reform

Discussion in 'Credit Talk' started by xhardc0rex, Sep 19, 2002.

  1. xhardc0rex

    xhardc0rex Well-Known Member

    This taken from www.abiworld.org:

    ABI Network Update
    September 19, 2002

    1. Legislation Update
    2. What's New at ABI World This Week
    3. Continued Analysis of Recently-Introduced Legislation
    4. Register for the Winter Leadership Conference
    5. 2003 Moot Court Competition Announced
    6. Don't Forget to Check Out Today's Bankruptcy Thursday

    LEGISLATION UPDATE

    Senate Will Take a Pass on Bankruptcy Reform Unless House Resolves Dispute

    The Senate will not take up bankruptcy reform legislation until the House passes it, CongressDaily reported. The House has been hung up in voting on
    the measure because of a split in the Republican Conference over the bill's impact on abortion clinic protesters. Senate Majority Leader Daschle (D-S.D.) claims to support the bankruptcy conference report, which a majority of House and Senate conferees agreed to, and similar measures have passed easily in the Senate before. However, Daschle's spokeswoman noted that Senate leaders do not want to spend time on the bankruptcy measure, only to find that the House cannot bring it to a successful conclusion. The House also has approved similar bankruptcy measures by wide margins. However, the chamber at large had not been previously confronted with language regarding the treatment in bankruptcy of individuals fined because of protest activities, added by this year's conferees.

    House Majority Leader Dick Armey (R-Texas) criticized House Democrats for the impasse over a bankruptcy reform conference report. Armey said his
    commitment to bankruptcy reform remains "unqualified," but contended that
    abortion language added by Sen. Charles Schumer (D-N.Y.) in conference makes a House vote problematic. "To me, you have a sensational juxtaposition of two morally compelling issues," Armey said.

    Bill supporters, such as the Credit Union National Association (CUNA) weren't giving up. Thousands of grassroots phone calls and personal contacts
    have been made to urge Congress to pass the conference report, as is. More than 2,500 emails have reportedly been delivered to the Hill via CUNA's
    website. Most of this lobbying is directed to the House leadership, urging them to move the conference report, notwithstanding objections to the
    Schumer amendment.

    The House is likely to be in session beyond the targeted October 4 adjournment, and a lame duck session is also likely. This could increase the
    chances for a final vote on the conference report.

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    I am crossing my fingers they do not bring it out of conference report to the floor of the House. WOW I wonder who sent all those emails on behalf of the CUNA? :(
     

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