WASHINGTON, Aug. 4 -- Sen. Chuck Grassley issued the following news release:
WASHINGTON - Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) and Ranking Member Dick Durbin (D-Ill.) are applauding the Senate's unanimous passage of their Bankruptcy Threshold Adjustment Act of 2026 to restore Americans' access to critical bankruptcy programs by reinstating modern debt limits for Subchapter V and Chapter 13.
"Our nation's bankruptcy code should work for Americans, not against them. By eliminating barriers to reorganization and restoring modern debt limits, the bipartisan Bankruptcy Threshold Adjustment Act would provide American families and small businesses the tools they need to regain their financial footing in a quicker, more str...