mr. speaker , today , the republican majority continues its assault on hardworking americans by ramming through the house of representatives bankruptcy legislation that harms even the most ethical among us . 
the legislation before us today is an indefensible gift to the credit card industry , and i urge my colleagues to join me in voting against it . 
s. 256 , the bankruptcy abuse prevention and consumer protection act , purports to introduce a greater level of personal responsibility into the bankruptcy system by eliminating various loopholes and incentives that encourage consumer bankruptcy filings and abuse . 
the bill 's proponents argue that this kind of abuse is rampant , but expert analyses suggest another story . 
according to a harvard study , about 50 percent of all families that file for bankruptcy are forced to do so as a result of medical expenses , and three-quarters of those individuals actually have health insurance . 
another 40 percent have been driven into bankruptcy , at least in part , after suffering a job loss , divorce , or death in the family . 
the american bankruptcy institute estimates that no more than three percent of filers avoid repayment of debts by gaming the system . 
the simple truth is that almost all individuals declaring bankruptcy do so as necessity and a last resort ! 
sadly , the mechanisms employed by this bill to crack down on bankruptcy abuse will have a disproportionate impact on women , minority communities , the elderly and the unemployed . 
it will impose a rigid means test that will make it more difficult for debtors to get a `` fresh start. '' the bill also will endanger child support payments , permit landlords to evict tenants , and frustrate efforts by debtors to save homes and cars . 
it betrays veterans who accumulate debt following an injury or disability sustained on active duty . 
in a final insult , the republican leadership denied the opportunity for democrats to offer amendments that would have protected veterans and other vulnerable communities . 
while the republican majority wishes to hold the average american accountable , it seeks to preserve privileges and loopholes for the financial industry and the rich . 
the bill does nothing to reign in credit card companies that engage in reckless lending , and it allows wealthy debtors in five states to declare bankruptcy and keep their multimillion-dollar homes without penalty . 
once again , the republican leadership thwarted amendments that would have evened the playing field for debtors and creditors . 
amendments to close loopholes for millionaires , discourage predatory lending , and cap interest on extension of credit were flatly rejected by the republican majority on the rules committee . 
reasonable bankruptcy reform may be necessary , but s. 256 is an abuse of the legislative process and a threat to the financial security of all americans . 
i urge my colleagues to oppose s. 256 . 
