Small business bankruptcy measure heads to president’s desk
Sen. Sheldon Whitehouse (D-RI) and Rep. David N. Cicilline (D-RI) recently touted the benefits of a bill designed to streamline bankruptcy procedures while providing tools aiding business owners’ ability to keep companies afloat and preserve jobs.
The Small Business Reorganization Act, which they sponsored with Sen. Chuck Grassley (R-IA) and Rep. Ben Cline (R-VA), advanced both houses and now awaits the president’s signature.
“The path to success is not a straight line for many small businesses,” Whitehouse said. “Our bill will improve the bankruptcy process to give struggling small businesses better tools to get back on solid footing and preserve jobs. I’m grateful to Senator Grassley for his longtime partnership on this issue and to Congressman Cicilline for his support.”