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Warren takes shot at Biden with new bankruptcy plan

© Charlie Neibergall/AP Photo

Sen. Elizabeth Warren (D-Mass.) wants to make it easier for Americans to go through bankruptcy, unveiling a plan Tuesday that she cast as a way to reverse the damage wrought by a 2005 law championed by her presidential rival Joe Biden.

That law, which imposed new requirements on filing for personal bankruptcy and limited the kinds of debts that can be forgiven, “made the 2008 financial crisis significantly worse,” Warren wrote in a Medium post announcing her plan.

The plan would eliminate a means test included in the 15-year-old law that required people making more than their state’s median income to go through Chapter 13 bankruptcy, a longer and costlier process than Chapter 7.

7th January 2020

News Source Politico

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