Bankruptcy bill fails Senate test
A Democratic proposal to curb rising home foreclosures by changing bankruptcy law failed a key test vote in the Senate on Thursday.
In a largely party-line vote, Republicans blocked the measure from moving ahead, although lawmakers said it might be reconsidered later.
As proposed, the bill would let bankruptcy judges erase some mortgage debt. It also would fund debt counseling and repairs of abandoned properties. The White House had threatened a veto.
The Senate voted 48 to 46 to take up the bill, falling short of the 60 votes needed to proceed.
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