[Congressional Record Volume 150, Number 9 (Friday, January 30, 2004)]
[Extensions of Remarks]
[Page E84]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page E84]]
    BANKRUPTCY ABUSE PREVENTION AND CONSUMER PROTECTION ACT OF 2003

                                 ______
                                 

                               speech of

                        HON. CAROLYN B. MALONEY

                              of new york

                    in the house of representatives

                      Wednesday, January 28, 2004

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (S. 1920) to 
     extend for 6 months the period for which chapter 12 of title 
     11 of the United States Code is reenacted:

  Mrs. MALONEY. Mr. Chairman, with more than 1.6 million annual 
bankruptcies, America needs real bankruptcy relief.
  In the past, I have voted for the bankruptcy bill that is on the 
floor.
  But today I cannot, because the majority has once again shown its 
allegiance to the most extreme elements of the anti-choice movement and 
removed the bipartisan, negotiated Schumer amendment.
  The bill on the floor is an especially devious attempt to pass the 
bill without the Schumer language, now inserting the entire bill into 
Chapter 12 bankruptcy relief for farmers.
  By doing so, the Majority is holding up much-needed bankruptcy reform 
and relief for struggling farmers hostage to appease anti-choice 
extremists.
  But for the lack of the bipartisan Schumer language I would support 
the bill. The idea at the heart of the bill, that debtors who can pay 
their debts should, is a fair one. The reforms in the bill are long 
overdue and consumer spending is so important to the economy that it 
saddens me that the Majority decided to play games rather than pass 
needed reform. Without the bill, all consumers who pay their bills on 
time suffer as they experience higher credit costs than they otherwise 
would. This legislation is also important because it includes 
legislation dealing with the netting of financial contracts. As 
derivatives continue to play a larger role in the economy, this netting 
legislation grows in import.
  The purpose of the bankruptcy code is to help provide a fresh start 
to the ``honest but unfortunate debtor.''
  With over 4,100 acts of violence at our nation's clinics, it is clear 
that these criminals are not honest, but instead are violent criminals 
who are getting away with their efforts to injure and intimidate women.
  Without this provision, if someone hurts or kills someone outside an 
abortion clinic, he or she can file for bankruptcy and avoid paying any 
judgements made against them. In other words, they are not held 
financially responsible for violating the law.
  If we strip this provision from bankruptcy reform, we send a message 
to criminals that they can continue to trample on the rights of 
American women and use violence to do so.
  We must stop these people from violating the law and must stop them 
from finding shelter in bankruptcy.
  I urge a ``no'' vote on this bill which is a shameless attack on a 
fair, bipartisan compromise and an unjust assault on America's farmers 
and women.