Senate Turns Back Amendments, Passes Bankruptcy

Credit Union Journal, The, March, 2005 by Ed Roberts, Washington Bureau Chief

The Senate turned away amendment after amendment last week to the bankruptcy reform bill-including a so-called poison pill amendment that killed the bill in each of the last two congresses-and voted to pass the credit union-backed measure for a fourth straight time.

"I've been around here long enough to know a poison pill when I see one, and make no mistake about it, this is a poison pill," said Utah Republican Orin Hatch, just before the Senate voted down a bid by New York Democrat Charles Schumer to bar abortion clinic protesters from shielding their assets under bankruptcy, the same provision that killed the bill in 2002 and 2004.

This is the fifth straight Congress to debate the bill. It was introduced in 1996 but failed to pass.

Then it passed both the...

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