Sen. Chuck Grassley made the following comment after the Senate passed the bankruptcy reform bill by a vote of 74 – 25.
"The bankruptcy bill got its legs more than ten years ago when former Sen. Howell Heflin and I got legislation passed in 1994 to form the National Bankruptcy Review Commission. The product of that resolution was the just the start of many years of hard work. Our first Consumer Bankruptcy Reform bill was introduced back in 1997. This bill obviously has a marathoner’s mentality. It’s been running a long time.
"This bill boils down to one point: If you can pay your bills – you should. If you can’t pay your bills – you are entitled to a fresh start. The sooner the House passes this bill, the sooner our bankruptcy system will be focused as it should be – on helping those with real need and less vulnerable to abuse by consumers who have the ability to repay their debts.
"We’re close and we can see the finish line. Now, I expect the House to push us across."