BK bill may move???

[bigun]

What is the name of your state?
Just rumormongering this A.M. but I saw this at www.abiworld.org

Previous Headlines


Bankruptcy Bill Procedural Rumors
Capitol Hill sources report that the House leadership is considering using the recently passed chapter 12 extension bill as a vehicle for the larger omnibus reform bill. The farm bankruptcy measure passed the Senate just before the end of the first session and is now pending in the House. (Chapter 12 again expired at the end of 2003). The House could then take up this non-controversial bill, attach the contents of H.R. 975 as previously passed, and call for a conference with the Senate, thus circumventing the need for an otherwise contentious Senate floor consideration of H.R. 975 as a separate bill. Republicans in both the House and Senate would control the conference and conference bills usually pass on a straight up or down vote without further amendment. H.R. 975 has been stalled in the Senate, since passed by the House with over 300 votes last spring.

 

[Ladynred]

Lord I hope not !! Bush would be a complete ASS to sign that thing this year !!!

 

[Skylyn]

Actually, it would be a smart move for him. He needs to appeal to his base before the election, rally the troops. This would be a good way to do it...

 

[bigun]

If this bill is signed into law, it'll take affect 180 days after the President signs it.
I think you'll see a wave of bk's that will exceed 2 million {on an annualized basis}. People that are trying to decide what to do will file just to be safe. That's not good for consumer confidence. I can see this backfiring and could well be costly in a battleground state like Fl with some liberal bk laws regarding homes.

 

[bigun]

More rumors from www.clla.org

January 22, 2004
Bankruptcy Reform Bill.

Here’s what we know. It is scheduled for Rules Committee action Tuesday, and floor action Wednesday. In fact, the House intends to strip out contents of the Ch. 12 bill and insert the House-Passed bill, requesting a conference. They would then hope that the Senate would appoint conferees and they could report out their bill and go to up or down votes in both houses and send it to the President.

However, this procedural move is unlikely to work in the Senate. Senate Democrats in the past have indicated any attempt to circumvent the process would not be accepted. As one might imagine, Senate Democrats do not take well to any attempt by the House to side step its procedural rules, regardless of the issue.

 

[Ladynred]

Well, considering Dubya's passion for pandering to big business, then, yes, he'd garner a lot of contributuions and favor for signing that thing - but consumers will turn their backs - consumers = votes !