I live in Wisconsin and wrote to senator Kohl about the bankruptcy bill. I told him I was not happy about his vote since it seemed to help corporation more than it did individuals. I also told him I worried about how this was gonig to affect those who had medical problems. Well I was happy to have written, and figured at least he knew how I felt. Imagine my surprised when I recieved a personal email back (although I am sure others who wrote him also recieved these.) He has some busy bees on his staff. Anyhow, his reply is on the flip.
Dear Dr. Paustian:
Thank you for taking the time to contact me. I value the correspondence that I get from people back home in Wisconsin, and I would like to take this opportunity to address your concerns about bankruptcy legislation.
The dramatic rise in bankruptcies is troubling and is likely attributable to numerous factors, all indicating the need for bankruptcy reform. Both the House and the Senate have been
considering various bankruptcy reform measures for several years, and are currently working to pass bankruptcy reform legislation.
Senator Chuck Grassley (R-IA) introduced the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005" on February 1, 2005. This legislation would amend the Federal bankruptcy law to revamp guidelines governing dismissal or conversion of a Chapter 7 liquidation to Chapter 13 (Repayment Plans).
On March 10, the Senate passed an amended version of the "Bankruptcy Abuse Prevention and Consumer Act of 2005" by a bipartisan vote of 74-25. This legislation included a provision,
which I sponsored, to prevent wealthy debtors from using state "homestead" exemptions to protect multimillion dollar homes even after declaring bankruptcy. I supported this bill because it simply requires that people who can repay some of their debts do so. The bill will not affect the vast majority of people -- 80 percent or more
- who will still use bankruptcy the same way that they do now.
This bill targets only the people who are taking advantage of the bankruptcy system, those who can and should repay some of their debts to their local retailer or credit union.
Again, thank you for sharing your thoughts with me. I am sorry that we disagree on this issue, but I am sure that there are others on which we do agree.
So what do people have to say? He seems to me to be taking a reasonable stand. I will probably volunteer for Herb when he runs. Just thought I would see what people think.