WHEREAS, Congress is on the verge of voting on the nation's bankruptcy laws that would make it harder for the nation's poor to file a bankruptcy and get a fresh start on their lives; and
WHEREAS, Financial institutions have been unsuccessful for the past four congressional sessions to make it more difficult for financially beleaguered Americans to file for bankruptcy, tipping the balance in favor of the nation's big financial interests; and
WHEREAS, One of the leading causes of bankruptcy, especially among Americans over 50, has long been devastating medical bills not covered by insurance; and
WHEREAS, This "reform" package would require bankruptcy filers to pass a means test, which means if their incomes are above a certain poverty-line linked level, they would not be able to file under Chapter 7 bankruptcy laws; and
WHEREAS, The Act would hurt the low-income wage earner and those citizens who receive limited income; now therefore
RESOLVED, THAT THE COUNCIL OF THE CITY OF PHILADELPHIA, Urges the United States House and Senate to not pass the Bankruptcy Abuse Prevention Act of 2005.
FURTHER RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That a copy of this resolution be circulated to each member of the United States Congress and Senate.
End