I will quote from Brady Williamson, Chairman of the National Bankruptcy Commission. I will talk a little bit about this piece of legislation in relation to what the Senate passed before. It guts the cap on the homestead exemption which was adopted by the Senate. It was taken out in conference. Poor tenants are evicted.
Wealthy people can shield their assets and go buy multimillion-dollar homes.
On the one hand, we gut tenants' rights, while on the other hand we shield wealthy homeowners. That is what this piece of legislation is about. Nor does this bill contain another amendment offered by Senator Schumer and adopted by the Senate that would prevent violators of the Fair Access to Clinic Entrances Act, which protects women's health clinics, from using the bankruptcy system to walk away from their punishment. Some folks are watching the progress of this bill and they are watching the way this bill has developed over the last year with a considerable amount of awe and envy. Certainly not reauthorization of the Elementary Secondary Education Act.