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For Immediate Release Contact: Pamela Rucker/Michael Epstein (202) 783-7971 NRF Praises Senate Passage of the << Bankruptcy Reform>> Act Urges President to Stand by Pledge to Support Personal Responsibility Washington, DC, December 7, 2000 – The National Retail Federation today applauded the passage of H.R. 2415, the "<< Bankruptcy Reform>> Act of 2000" by a strong, bipartisan margin and urged President Clinton to sign the bill into law. “This is a fair and balanced piece of legislation that has been far too long in coming,” said Steve Pfister, NRF’s Senior Vice President for Government Relations. “This bill is the result of months of negotiations by members of both parties in both chambers of Congress and we urge the President to make this vital << reform>> measure the law of the land.” << Bankruptcy>> legislation was passed by veto-proof margins in both the House of Representatives and the Senate early in the legislation session. However, Congressional negotiators had difficulty working out a compromise measure as opponents of the bill insisted on adding extraneous provisions that were not relevant to << bankruptcy reform>> . With Senate passage of the bill, years of hard work and cooperation by the retail industry and Congress to bring meaningful << reform>> to a flawed << bankruptcy>> system are finally coming to fruition. “With << bankruptcy>> filings again on the rise, now is the time to bring years of toil by a bipartisan group of legislators to a conclusion,” added Pfister. “We urge the President to put aside the partisan bickering over provisions irrelevant to this bill and sign the << Bankruptcy Reform>> Act of 2000 into law.” The National Retail Federation (NRF) is the world's largest retail trade association with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalogue, Internet and independent stores. NRF members represent an industry that encompasses more than 1.4 million U.S. retail establishments, employs more than 20 million people -- about 1 in 5 American workers -- and registered 1999 sales of $3 trillion. NRF’s international members operate stores in more than 50 nations. In its role as the retail industry's umbrella group, NRF also represents 32 national and 50 state associations in the U.S. as well as 36 international associations representing retailers abroad. For more information about NRF, visit our Website at www.nrf.com . ### |