Grassley bankruptcy bill passes Senate
A change in bankruptcy laws U.S. Sen. Charles Grassley said will benefit families and small businesses has been unanimously approved by the Senate. The Iowa Republican and U.S. Sen. Dick Durbin, D-Illinois, wrote the bill. It is called the Bankruptcy Theshold Adjustment Act of 2026. The measure restores previous debt limits that were included in the complex federal bankruptcy laws. “Our nation’s bankruptcy code should work for Americans, not against them,” Grassley said in a written statement. “By eliminating barriers to reorganization and restoring modern debt limits , the ...