Debate on a bankruptcy reform bill is expected to begin in the U-S Senate today. Senator Chuck Grassley is the chief sponsor of the bill, which he says will address the huge number of bankruptcies each year in Iowa and the U-S. He says the legislation would make it harder to declare bankruptcy.Grassley says opinions and laws have shifted about bankruptcy — which used to be regarded as a major failure. He says those who declare they’re broke often get off “scott-free” when they CAN pay off at least some bills. Grassley’s bankruptcy reform measure failed a year ago but he is hopeful there’ll be enough votes to pass it this time.Iowa’s bankruptcy rate has fallen in the past year. During the first nine months of 1999, government reports say more than 62-hundred Iowa businesses, individuals and farms declared bankruptcy. That’s down about 15 percent from the first nine months of last year.
