Bankrupcy Bill Passes

A Senate bill to overhaul federal bankruptcy laws, a top priority of retailers, auto lenders and banks, cleared a key hurdle Tuesday afternoon. Sixty-nine senators -- nine more than needed -- voted for "cloture," a procedural move that limits debate. Republican leaders hope to push the bill to a final vote by the end of the week. Earlier, the Senate turned back a controversial, abortion-related amendment that has scuttled previous efforts to pass bankruptcy legislation. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was first introduced in 1998 as The Consumer Bankruptcy Reform Act. [from MetaFilter.com]