Pete Sessions: “I would like to comment on Senator Corzine's amendment No. 32 to exempt "economically distressed caregivers" from the…”

“I would like to comment on Senator Corzine's amendment No. 32 to exempt "economically distressed caregivers" from the means test. I remind all of my colleagues that people who are economically distressed and have incomes below the median income already will be exempt from the means test. Secondly, I point out that page 10 of the bill is explicit that expenses people incur for the care and support of an elderly, chronically ill or disabled member of their household or family is subtracted from their income, even if they have very high income. This means that the bankruptcy bill we have drafted will still allow people who take care of their sick and aging family members to file for bankruptcy under chapter 7, the chapter that allows you to completely wipe out all your debts. Let me read directly from page 10 of the statute. In other words, the amendment is covered by the legislation. It came up in committee. We talked about it, and it was adopted.”