Statement of Administration Policy: H.R. 2211 - Family Farm Bankruptcies
(Rodino (D) New Jersey and 43 others)
The Administration opposes enactment of H.R. 2211. To the extent that the bill would permit family farmers who would not otherwise qualify to proceed under Chapter XIII of the Bankruptcy Code, the bill represents a substantial departure from the original purpose of Chapter XIII: to make an expedited bankruptcy procedure available to individual debtors burdened by modest amounts of short term debt by permitting the use of future income to discharge their debts in bankruptcy. In addition, by lengthening the amount of time over which a bankrupt estate may make payments and in impeding creditors' ability to object to repayment plans, H.R. 2211 would have a substantial negative effect on the United States in its role as creditor.
APP Note: Original document provided by Samuel Kernell, UC San Diego.
Ronald Reagan, Statement of Administration Policy: H.R. 2211 - Family Farm Bankruptcies Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/326930