AUGUST 8, 2001 LETTER ON BEHALF OF PRESIDENT BUSH
Dear Mr. Chairman:
The Administration understands that conferees will soon begin to discuss ways to reconcile the House and Senate versions of H.R. 333, the Bankruptcy Reform Act. As an agreement on this bill develops, your consideration of the Administration’s views would be appreciated.
The Administration supports the overall goal of the bankruptcy reform legislation. The common sense reforms in these bills will curb many of the abuses of the current bankruptcy laws. However, the Administration strongly opposes the Senate-passed language regarding the homestead exemption and strongly urges the conferees to return to the bipartisan compromise language that was adopted by the last Congress.
Also, as you know, the Administration opposes Section 1310 of the House bill (which was deleted from the Senate version of the bill) because it has the potential to undercut the rule of law as it applies across international borders, with serious consequences for U.S. interests. The Administration looks forward to working with the conferees to resolve these and any other outstanding issues and secure passage of bankruptcy reform legislation.
Thank you for your consideration.
Mitchell E. Daniels, Jr. DirectorDetails