Chairman Nadler Floor Statement in Support of H.R. 1651, the COVID-19 Bankruptcy Relief Extension Act of 2021
Washington, March 16, 2021
Washington, D.C. - Today, House Judiciary Committee Chairman Jerrold Nadler (D-NY) delivered the following statement on the House floor in support of H.R. 1651, the COVID-19 Bankruptcy Relief Extension Act of 2021:
"H.R. 1651, the 'COVID-19 Bankruptcy Relief Extension Act of 2021,' is bipartisan legislation to temporarily extend until March 27, 2022 the COVID-19 bankruptcy relief provisions enacted as part of the CARES Act and the December 2020 omnibus appropriations bill.
"Since the bankruptcy provisions of the CARES Act will expire next week, it is urgent for Congress to ensure that families and small businesses do not lose access to these economic lifelines.
"These provisions were enacted last year to provide critical relief to families and small businesses forced into bankruptcy due to the ongoing pandemic.
"For example, they help ensure that federal COVID-related relief payments are used by families to get through this pandemic instead of being seized by creditors. They also help people stay in their homes and ensure that their utilities are not shut off.
"In addition, these provisions protect individuals and creditors alike from the effects of the pandemic derailing the court-ordered repayment plans that promise a way out of chapter 13 bankruptcy.
"They will also allow more small businesses to take advantage of the streamlined process established by the Small Business Reorganization Act.
"Extending these necessary protections until March of next year will provide much-needed certainty that the bankruptcy system will remain responsive to debtors and creditors alike during this extraordinarily disruptive crisis. I thank Mr. Cline for his work with me on this bill and for his work to ensure that small businesses have meaningful access to the bankruptcy process."I urge my colleagues to support this urgently needed bill and I reserve the balance of my time."
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