Political Quotes

“I rise to support H.R. 4167, which extends Chapter 12 bankruptcy protection. However, I have concerns that this legislation will only temporarily extend Chapter 12 bankruptcy protection, by being retroactive to October 12 and extending through the end of May. Our farmers need this legislation to be made permanent, the point we made about a week ago. When Chapter 12 was enacted in 1986, there were some questions whether it would work properly, so Congress made it temporary. The idea behind Chapter 12 is very straightforward. Other forms of bankruptcy relief are either too costly or do not fit the particular circumstances of a family farm. If one is out in the small hamlets and villages, they will make that very clear. Last week I offered a motion to instruct the conferees on the farm bill; and my motion to instruct, which passed overwhelmingly, asked the conferees on the farmer bill to accept the language in the Senate bill that would make Chapter 12 of the bankruptcy code permanent. I do not think there is any controversy whatsoever that Chapter 12 works well and that it protects our family farmers who are in distress, or that it properly balances the legitimate needs of financially troubled farmers and their creditors, and that it preserves the family farm, which is our whole intent, our whole point.”