[Congressional Record Volume 161, Number 182 (Tuesday, December 15, 2015)]
[Extensions of Remarks]
[Page E1793]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 REGARDING THE NATIONAL GUARD AND RESERVISTS DEBT RELIEF EXTENSION ACT 
                                OF 2015

                                 ______
                                 

                            HON. STEVE COHEN

                              of tennessee

                    in the house of representatives

                       Tuesday, December 15, 2015

  Mr. COHEN. Mr. Speaker, I rise today in support of the National Guard 
and Reservists Debt Relief Extension Act of 2015, which I introduced 
earlier today with my colleagues Jerrold Nadler and Dana Rohrabacher.
  This bipartisan legislation ensures that certain members of the 
National Guard and Reserves who fall on hard economic times after their 
service will continue to obtain bankruptcy relief without having to 
fill out the substantial paperwork required by the so-called ``means 
test'' under chapter 7 of the Bankruptcy Code.
  This bill simply extends the existing ``means test'' exception, which 
will expire at the end of the year if Congress fails to act.
  Under the means test, a Chapter 7 bankruptcy case is presumed to be 
an abuse of the bankruptcy process if it appears that the debtor has 
income in excess of certain thresholds. The National Guard and 
Reservists Debt Relief Act of 2008 created an exception to the means 
test's presumption of abuse for members of the National Guard and 
Reserves who, after September 11, 2001, served on active duty or in a 
homeland defense activity for at least 90 days. The exception remains 
available for 540 days after the servicemember leaves the military.
  The National Guard and Reservist Debt Relief Extension Act of 2015 
would simply extend the exception until December 2019.
  This bill is a meaningful way for our Nation to recognize the 
tremendous sacrifice made by National Guard and Reserve members who 
have served on active duty or homeland defense since September 11, 2001 
and may be suffering financial hardship.
  I urge my colleagues to support this bill.

                          ____________________