Bankruptcy limitation bill going before Senate News
Bankruptcy limitation bill going before Senate

[JURIST] A controversial bankruptcy bill first introduced in 1997 goes up for consideration again Monday in the US Senate [official website]. The bill aims to limit the ability of consumers to declare bankruptcy and have their debts nullified. Republican Senator Chuck Grassley [official website], author of the legislation, asserts that instead of being used as a last resort, bankruptcy is being used as a convenient method for escaping debt. The credit card industry supports the bill, while several consumer advocacy groups argue that misuse of bankruptcy laws is over-stated and the bill will hinder consumers genuinely in need of declaring bankruptcy. The four seats picked up by Republicans in the November elections give a 55-vote majority to bill supporters. Democratic Senator Charles Schumer [official website] has successfully blocked the bill twice by adding on an amendment prohibiting individuals from filing for bankruptcy protection to avoid paying fines for illegal protests at abortion clinics. This year, support for Schumer's amendment has faltered, and Republicans are convinced they can block the amendment's introduction. Watch a webcast of the Senate proceedings at 2 PM ET. Read the text of the proposed bill [PDF]. The Financial Times has more.

THIS DAY @ LAW

Indian National Congress founded

The Indian National Congress (INC) was founded on December 28, 1885 in Bombay (now Mumbai), India. In subsequent decades, the so-called Congress Party would advocate for Indian independence from the UK, which was eventually achieved in 1947. The first Prime Minister of independent India, Jawaharlal Nehru, was elected as a member of the INC. Learn more about the history and founding of the Indian National Congress.

Congress recognized Pledge of Allegiance

On December 28, 1945, Congress officially recognized the Pledge of Allegiance and encouraged its recitation in schools. The Pledge was supposedly written in 1892 by Francis Bellamy, a Baptist minister, to celebrate the 400th anniversary of Columbus Day. The words “under God” were added by Congress in 1954. The revised version of the Pledge was the subject of litigation before the United States Supreme Court originally brought by Michael Newdow, a parent who unsuccessfully objected to his daughter's school district policy requiring daily recitation of the Pledge. The court ruled that Newdow had no standing.

Nepal ends monarchy, establishes republic

On December 28, 2007, the Kingdom of Nepal's interim parliament ended the country's monarchy and established the Republic of Nepal. Free elections were held on April 10 of the following year to elect a Constituent Assembly.

Learn more about the rise of democracy in Nepal.