Ron Paul Dear Colleague Letter on Bankruptcy Reform
Ron Paul Dear Colleague Letter on Bankruptcy Reform
(J. Bradley Jansen was the legislative staffer for Ron Paul on these issues at this time)
Ron Paul Dear Colleague on Bankruptcy
June 10, 1998
Make local school districts a higher priority than the IRS!
Dear Colleague,
With a yes vote on the Paul amendment on today’s vote on HR 3150, the Bankruptcy Reform Act of 1998, we can properly set our priorities. Under current law and the text of the considered bill, unsecured claims by the Federal government are a higher priority than Federal depository institutions regulatory agency and also a higher priority than local or state governmental claims.
The Paul amendment would better maintain the safety and soundness of the financial system by helping to protect the depository institutions while setting our priorities straight regarding governmental claims. Adoption of the amendment would not alter other priorities such as alimony or child support.
Let this amendment be clearly understood: claims by the local school district will have a higher priority than the IRS will have if this bill is adopted. Of claims by governmental units, a preference will be given “firstly of local governmental units, secondly of State governmental units, and thirdly of all other governmental units.”
Vote for the Paul amendment TODAY on the Bankruptcy Reform Act!
Sincerely,
Ron Paul