S3977Introduced

Bankruptcy Threshold Adjustment Act of 2026

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Introduced
2
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-03-03
Introduced
5
Cosponsors
S
ⓘ
Type

Sponsor

Chuck Grassley
Chuck Grassley
Republican · IA · Senator
Votes with party: 35.4% (322 recorded votes)

Full profile: /officials/G000386

Source: Congress.gov · FEC

Cosponsors (5)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 347.

2026-03-04

Source: Congress.gov

Plain-English Summary

This bill would adjust the income and asset limits that determine whether individuals can file for bankruptcy protection, likely raising the thresholds to account for inflation since they were last updated. The changes would affect people struggling with debt by potentially making it easier or harder for them to qualify for different types of bankruptcy depending on how the limits are adjusted. Banks, credit card companies, and other creditors would also be affected since the rules determine how much debt gets forgiven versus repaid.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Finance and Financial Sector
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Open text viewRead on Congress.gov

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