Jan. 24 at 4:20 p.m.
Filed under:
Bankruptcy,
Government
By Reuters
House Majority Leader Eric Cantor on Monday dismissed the idea that states should be allowed to declare bankruptcy, diminishing the possibility that any legislation opening bankruptcy courts to the states will work its way through Congress.
Cantor, speaking to reporters, was reacting to reports last week that some fellow Republican members of Congress were preparing legislation to allow cash-strapped states to declare bankruptcy as an alternative to turning to the federal government for financial help. Get the full story »
Jan. 21 at 4:38 p.m.
Filed under:
Bankruptcy
By Reuters
Some of the biggest U.S. states with the worst budget deficits on Friday rejected any federal help in the form of a bill that would allow them to file for bankruptcy — something they now are barred from.
Legislation that would allow U.S. states to file for bankruptcy will likely be introduced in Congress within the next month, Newt Gingrich, the former speaker of the House of Representatives who remains a powerful figure in the Republican party, told Reuters on Friday. Get the full story »
