Former Democratic Rep (LA-7); 2004 former Senate challenger
Voted YES on restricting bankruptcy rules.
Vote to pass the bill that would require debtors who are able to pay back $10,000 or 25 percent of their debts over five years to file under Chapter 13, rather then seeking to discharge their debts under Chapter 7. Chapter 13, calls for a reorganization of debts under a repayment plan. A Debtor would be restricted, in this bill, to a total exemption of $125,000 in home equity for residences bought within 40 months of a bankruptcy filing. The bill also would establish permanent and retroactive Chapter 12 bankruptcy relief for farmers.
Reference: Bankruptcy Abuse Prevention and Consumer Protection Act;
Bill S 1920
; vote number 2004-10
on Jan 28, 2004
Retire half the public debt by 2006.
John signed the Blue Dog Coalition letter:
Blue Dog budget framework
Set tax and spending priorities within a five year budget framework instead of using ten-year budget projections to allow for backloaded tax cuts or spending increases
Require all tax or spending initiatives to be fully implemented within the five year budget window
Retire over half of the publicly held debt by 2006
Devote one-quarter of the [non-Social Security] surplus to tax cuts retroactive to 2001, for a net tax cut of $180 billion from 2001-2006
Establish realistic discretionary spending caps which will restrain spending but also provide room to fund new initiatives without relying on unspecified or unrealistic spending.
Source: Blue Dog Coalition letter to the Senate 01-BDC2 on May 9, 2001
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