[Congressional Record (Bound Edition), Volume 145 (1999), Part 4]
[Senate]
[Page 5096]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    CONSUMER BANKRUPTCY ACT OF 1999

 Mr. ROTH. Mr. President, I rise today to ask that my name be 
added as a cosponsor to S. 625, the Bankruptcy Reform Act. It is clear 
that a reform of our consumer bankruptcy laws is called for. The United 
States is at the height of its prosperity, yet in these good economic 
times bankruptcy filings are at an all time high.
  Of course, no matter how well the Nation is doing as a whole, 
individuals and individual families may need to fall back upon 
bankruptcy protection. The reforms included in the bipartisan Grassley-
Torricelli proposal will not punish legitimate uses of the bankruptcy 
codes. Rather this bill will root-out what I agree are its illegitimate 
uses, and assert rights of consumers filing for bankruptcy. S. 625 also 
extends or authorizes several necessary bankruptcy judgeships, 
including one in Delaware, and reenacts farm bankruptcy laws among its 
provisions.
  This bill also makes changes in the way that tax claims are handled 
in bankruptcy. As chairman of the Finance Committee, I have a strong 
interest in these tax-related provisions. As Senator Grassley mentioned 
when he introduced the bill, we both expect to modify a number of the 
provisions at the appropriate time.
  Mr. President, I am glad to join my friend and fellow Delaware 
Senator, Joe Biden, as a cosponsor of the Bankruptcy Reform Act. I look 
forward to its consideration on the Senate floor in the coming 
months.

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