Orrin Hatch: “I have said before, this amendment bars firearm manufacturers and sellers, including retailers, from business…”

“I have said before, this amendment bars firearm manufacturers and sellers, including retailers, from business reorganization under the bankruptcy code by not allowing the discharge of debts that might result from one of these recently filed tort suits. That means a major retailer could go bankrupt and would not be able to reorganize to be able to pay off their debts. It would just gradually be sold off to meet the needs of this particular amendment. Manufacturers that could pay off injured parties substantially in full over time would simply not be able to do so under this amendment. Instead, they would be forced into liquidation. It is both poor policy and a dangerous precedent to single out an unpopular industry for unfavorable treatment under the bankruptcy code. This is political correctness gone awry. As I recall, there are 18 exemptions on the personal side but none on the corporate side in this bill so far. Let us keep the bankruptcy laws nondiscriminatory in the sense of attacking and loading it up on an unpopular business just for political purposes. That is the wrong political correctness to be used. In this particular case, it just doesn't make sense. We ought to want them to go into reorganization so the debts could be paid and the business might be able to survive. That is why this amendment needs to be voted down. I urge my colleagues to oppose this amendment.”