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.
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