A bankruptcy reform bill introduced by Iowa Senator Chuck Grassley passed the U-S Senate Wednesday. Grassley says he wasn’t sure the bill was ever going to pass after several amendments stalled it last year.Grassley says the bill will make sure people who are able to pay their debts do pay. The bill now goes to a conference committee which will try to work out differences between Grassley’s bill and a House bankruptcy bill. Grassley says it should have a better chance than other failed bankruptcy bills.Grassley says the bill clears up White House concerns about the ability to recover child support from fathers who declare bankruptcy. He says that should lead the president to sign the bill if it reaches his desk.Grassley says the bill makes the so-called “Chapter 12” bankrupcty permanent. Chapter 12 is tailored to helping farmers reorganize debt and stay in business.
SEARCH THIS SITE
RECENT NEWS
- Iowa housing market movement looks to be back where it was before COVID
- Grassley: Pentagon workers spent millions of pandemic dollars on personal expenses
- After missing Iowa trucker’s body found, wife says: ‘Things don’t add up.’
- Western Iowa Tech to pay millions to students to settle lawsuit
- $18.8 million workforce housing development planned in Spirit Lake