Politics

Joe Biden Makes U-Turn, Endorses Elizabeth Warrens Bankruptcy Plan

Former Vice President Joe Biden is endorsing former Democratic rival Sen. Elizabeth Warrens (D-Mass.) plan to reform consumer bankruptcy laws, including allowing relief of student loan debt, 15 years after they publicly clashed over it.

Biden revealed his surprise endorsement during a digital town hall for Illinois voters on Friday night after cancelling public events due to growing fears over the coronavirus outbreak.

When questioned over what steps he would take to appeal to supporters of his current rival, Vermont Sen. Bernie Sanders, if he were to win the Democratic nomination, Biden noted a portion of Warrens plan would allow student loan debt to be eliminated in bankruptcy just like other debts, and said it was “one of the things that I think Bernie and I will agree on.”

“Im going to endorse, Ive endorsed, Elizabeth Warrens bankruptcy proposal, which in fact goes further, allows for student debt to be relieved in bankruptcy, provides for a whole range of other issues that allows us to in fact impact on how people are dealing with their circumstances,” Biden said. “So theres a whole range of things we agree on.”

Biden reviewed Warrens bankruptcy plan and supports the proposal, ABC reported. He is expected to speak more on the topic during Sunday nights Democratic debate.

Warrens plan, announced in January, would undo much of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 which made it more difficult to file for bankruptcy, and “give Americans a better chance of getting back on their feet.”

Biden had previously been a leading proponent of the 2005 bill, which was largely backed by Republicans, banking and credit card industries and passed by a GOP-controlled Congress, during his time as a Delware senator. At the time, Read More – Source

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