[Walkin Man]

Lawmakers who favor the legislation argue that it would prevent consumers from abusing the bankruptcy laws – using them to clear debts that they can afford to pay. "

Again the political parties demorat and repub don't mind turning the screws on average smalltime taxpayers what about big business? When will Congress and the President reform the business bankruptcy laws?

Short answer...never.

[WOSG]

"Again the political parties demorat and repub don't mind turning the screws on average smalltime taxpayers ..."

If anything, this is a help to the 'average' person out there. People with high incomes who declare bankruptcy have greater chance of having to get debt rescheduled instead of discharged. But if your income is below the state median income where you live, your situation doesnt change much, you can discharge debts as before.


" what about big business? When will Congress and the President reform the business bankruptcy laws?"

And the reason this would be needed is ....???

You are confusing 2 different things. Consumers *voluntarily* go bankrupt to escape bills they won't or can't pay.

Businesses that go bankrupt are usually dissolved. Businesses are usually *forced* into bankruptcy by creditors when the debtor defaults, and the creditors decide the businesses assets are more return than they'd get from a non-paying business.