Bankruptcy Bills for Businesses, Veterans, Farmers Pass Senate (Corrected)

Three bills that aim to ease the bankruptcy process for small businesses, veterans, and farmers cleared the Senate on August 1 by voice vote.

The Small Business Reorganization Act of 2019 (H.R. 3311), HAVEN Act (H.R. 2938), and Family Farmer Relief Act of 2019 (H.R. 2336) had all previously passed the House and will now go to President Trump for his signature.

The Small Business Reorganization Act simplifies the bankruptcy process for businesses with less than $2.7 million in debt. The HAVEN Act will exclude disability payments from income calculations during bankruptcy filings of veterans and their dependents. The Family ...