Bankruptcy Reform Act (3rd time's a charm ...)

The consensus in Washington is that the Bankruptcy reform legislation that has failed repeatedly in recent years will be re-introduced soon. Sources say the bill is expected to move quickly through the House and reach the Senate by April, where the majority cannot force issues as easily or as quickly as they could have in the House. In particular, 50 votes are needed to break a filibuster in the Senate and there is no indication that Sen. Schumer has given up on his "poison pill” provision that many Senators who support the bill nonetheless find repugnant. Sources give the bill a 60/40 chance of passing unless the debate drags on past the first session 2005 and into 2006: then it becomes 50/50. Susan Jones with CNSNews.com reports that Sen. John Cornyn's office said likely business in the weeks ahead will include Class Action and Bankruptcy reform (although no Senate bills will be introduced before January 24 in any case).