Warren Takes Aim at Biden With Plan to Bolster Bankruptcy Rights
- Proposal would roll back 2005 bill that was backed by Biden
- Warren would allow student debt to be discharged in bankruptcy
Source: Bloomberg
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Elizabeth Warren rolled out a plan Tuesday to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, taking an implicit shot at the Democratic presidential front-runner just weeks before the first nominating contests next month.
The 2005 law raised eligibility requirements and financial costs for Americans to file for personal bankruptcy, a last resort for many to eliminate debt. Warren’s proposal would eliminate obstacles erected by that measure and allow Americans to clear out student debt in bankruptcy.