Mr. Chairman, in this particular case the gentleman from New York (Mr. Nadler) full well knows that the recommendations of the bankruptcy commission, which worked 2 years on just this kind of provision, made certain recommendations in filing their report late last year. It is those provisions, those recommendations, which we have incorporated into H.R. 3150, and which themselves have received the blessing of the NFIB, and other organizations, such as, and this is important, the National Federation of Independent Businesses, NFIB, which I mentioned; the American Bankruptcy Institute, the Executive Office for United States Trustees, and various bankruptcy judges. But more importantly than that, the NFIB language that they employed in the letter of support to us says this, and this is a better speech than I could make, or any combination of Members could make: "The legislation strikes a fair balance by giving small business owners more of a chance to get back what is rightfully theirs while still providing bankruptcy protection to those small businesses who truly need it." I endorse the NFIB endorsement of the endorsed bill that we now endorse, and reendorse by asking for a negative vote on the proposal at hand.
Editor's note · Context
Discussing the incorporation of bankruptcy commission recommendations into H.R. 3150.
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