House Passes National Guard and Reservists Debt Relief Act of 2008
Washington, Jun 23, 2008 -
Today, H.R. 4044, the National Guard and Reservists Debt Relief Act of 2008, was passed by the House. Rep. Rohrabacher (R-CA) partnered with Rep. Schakowsky (D-IL) to co-author H.R. 4044 to help give National Guardsmen and Reservists a financial helping held hand upon their return from active duty. If a Guardsmen or Reservist is unable to pay debts as a result of being called up for service after 9-11, H.R. 4044 will exempt them from the tougher new bankruptcy standards. Upon their return, Guardsmen and Reservists will now fall under the old Chapter 7 bankruptcy rules for 540 months, protecting veterans from the harsh consequences the financial disruption from active duty can bring into their lives.
"Our veterans leave their families and their jobs to go oversees to protect us," said Rohrabacher. "The least we can do is protect them from the potential long term economic hardship their service to our country may cause. That is what this bill is all about.
"There couldn’t be two Members of Congress more different that Rep. Schakowsky and myself, so the passage of this legislation aimed at helping our National Guardsmen and Reservists in one of the better examples of bipartisanship."
H.R. 4044 was passed with bipartisan support via voice vote.
Associated Press: "House provides bankruptcy relief to reservists"