House and Senate Approves National Guard and Reservists Debt Relief Act
Kudos to the House and Senate for passing the National Guard and Reservists Debt Relief Act of 2008. This Act suspends the bankruptcy means test for 18 months for those who qualify, after September 11, 2001, and have been called to active duty or to perform a homeland defense activity for not less than 90 days.
This bill was originally sponsored by Senators Dick Durbin (D-Ill), Patrick J. Leahy (D-Vt.), and Orrin Hatch (R-Utah). The bill passed the Senate by Unanimous Consent on September 30th. The House approved the bill by roll call vote on October 3rd. On October 9th, the bill was presented to President Bush to sign into law.
I am sure that many of you will agree that cutting through the red tape for members of our National Guard and Reservists is the right thing to do in tough economic times. While this bill is not a bailout for ordinary Americans in financial dire straits, its passage by the House and Senate does recognizes the fact that those who protect and serve our country are worth assisting with a fresh start.
