Madam Speaker, I rise today in opposition to H.R. 5827, the Protecting Gun Owners in Bankruptcy Act. This legislation would provide a special exemption to allow gun owners to keep certain firearms during bankruptcy proceedings.

Bankruptcy is a difficult and trying time for all families who face it. The federal system is designed to protect some personal items from being seized, because they are essential to an individual or family's livelihood. Assets such as clothing, household furnishings, retirement funds, and social security benefits are exempt from seizure--within certain limits--so that those struggling through bankruptcy have something to restart their lives with. While this bill may be a political victory for the American gun lobby, a special carve-out for guns would do nothing to help families emerge from the crisis of bankruptcy.

In these times of economic hardship, millions of working families are facing bankruptcy and foreclosure. They need real help, not carve-outs for special interests.