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March 7, 2001

S. 420 - Bankruptcy Reform Act of 2001
(Sen. Grassley (R) Iowa and 6 cosponsors)

The Administration supports the overall package of bankruptcy reforms reflected in S. 420. These common sense reforms will curb many of the abuses of the current bankruptcy protections. In addition, the Administration supports the bipartisan compromise language that was adopted by the last Congress regarding the homestead exemption.