Bankruptcy bill is first on senate agenda

The first bill up for debate when the U-S Senate re-convenes this morning is one sponsored by Iowa Senator Chuck Grassley. It has to do with bankruptcy reform, and Grassley says the bill would close loopholes that let people walk away from debts they can pay.Grassley says consumers would see the benefits of his bill as it would force credit card companies to come clean on a variety of levels. He says it would force them to tell consumers what something will cost if they make only the minimum payments.Grassley says his bankruptcy bill targets agriculture and family farms in particular. Grassley says the measure would also ensure a strong safety net for those who’ve been dealt severe financial setbacks due to lost jobs, natural catastrophes, divorces, family illnesses or deaths.