9/26/00
Bankruptcy Reform Likelihood Increases
Interestingly, the bankruptcy reform debates appears to have taken a positive turn; after months of a downhill slide. Despite Senate Majority Leader Lott's (R-MS) proposal to attach the bankruptcy reform legislation to the Transportation Appropriations bill being a risky move (by daring the Administration to veto an appropriations bill), it could provide the means to it being signed. The Transportation bill, in addition to being a "must pass" bill, it is usually a popular bill by both parties. Also, it appears that the only outstanding issue between the Administration and the Republicans is absolute resolution of the abortion issue amendment.
With the narrowing of the issues and attachment to a bill used to such amendments, the bill's chances of passage seem to have increased. It is now a question whether Sen. Wellstone (D-MN) will continue to keep his vigil against the bills passage or if other Democrats, previously supportive, have since grown cold.
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TMA is committed to providing the most recent legislative actions affecting the corporate renewal industry. The following updates are provided by TMA's Legislative Consultant, David P. Goch, of Webster, Chamberlain & Bean in Washington, DC. Please contact David at dgoch@wc-b.com or (202) 785-9500 for more information or specific questions about the legislative information provided below.