Bankruptcy Reform. As the National Chamber of Commerce noted in its analysis of the bankruptcy reform bill, this legislation was aimed at the "more than 100,000 bankruptcy filers [who] are abusing the system every year by discharging debts that they have the ability to repay." Under this underlying bipartisan bill, "Abusers of the bankruptcy system, those median income who earn more than the and can afford to repay a significant portion of their debts, will be required to pay back what they can afford." This legislation would allow persons saddled with unexpected medical bills or other hardships a fresh start through bankruptcy while generally preventing the abusive or habitual use of bankruptcy by sheltering fewer assets from seizure under bankruptcy proceedings.
The House passed H.R. 333 on March 1, 2001 by a vote of 306-108 (Roll Call 25). We have assigned pluses to the yeas.
