The Democratic “Blue Dog Coalition” in the House of Represntatives has come out strongly for Bankruptcy Reform in a letter to Speaker Hastert. As they correctly observe, “Allowing bankruptcy to become a financial planning tool rather than a last resort forces many of our constituents who pay their debts to pay for those who do not.”
In the past, the reform legislation has garnered roughly 75% majorities in both houses of Congress (all Republicans and about half the Democrats). In an era of Washington partisanship, one would be hard-pressed to find many major pieces of legislation with such broad-based bipartisan support.
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