mr. speaker , i thank the gentleman for yielding me time . 
mr. speaker , the reform of the nation 's bankruptcy laws which our actions today will accomplish is well justified . 
this reform is strongly in the interests of consumers . 
it will significantly reduce the annual hidden tax of approximately $ 400 that the typical consumer pays because others are misusing the bankruptcy laws . 
that amount represents the increased cost of credit and the increased price of goods and services caused by bankruptcy law misuse . 
this reform will lower that hidden tax . 
the reform also helps consumers by requiring clearer disclosures of the cost of credit on credit card statements , and the reform will be a major benefit to single parents who receive alimony or child support . 
that person today is fifth in priority for the receipt of payment under the bankruptcy laws . 
the reform before us today elevates the spouse support recipient to number one in priority . 
this reform proceeds from the basic premise that people who can afford to repay a substantial portion of what they owe should do so . 
the bill requires that repayment while allowing a discharge in bankruptcy of the debts that can not be repaid . 
in so doing , it responds to the broad misuse of chapter 7 's complete liquidation provisions that we have observed in recent years . 
the reform measure sets a threshold for the use of chapter 7. debtors who can make little or no repayment can use its provisions and discharge all of their debts . 
debtors whose annual income is below the national mean of about $ 50 , 000 per year are untouched by this reform . 
they can make full use of chapter 7 and discharge all of their debts , whether or not they can afford to make repayments . 
this reform imposes a modest measure of personal responsibility that is well justified , and i urge its approval by the house . 
