J une 10, 1998

Make local school districts a higher

priority than the IRS!
Dear Colleague,

With a yes vote on the Paul amendment on today’s vote on HR 3150, the
Bankruptcy Reform Act of 1998, we can properly s et our priorities. U nder
current law and the text of the considered bill, unsecured claims by the Federal
government are a higher priority than Federal depository institutions regulatory
agency and also a higher priority than local or state governmental claims.

The Paul amendment would better maintain the safety and soundness of
the financial system by helping to protect the depository institutions while
setting our priorities straight regarding governmental claims. Adoption of the
amendment would not alter other priorities such as alimony or child support.

Let this amendment be clearly understood: claims by the local school

district will have a higher priority than the IRS will have if this bill is adopted.
Of claims by governmental units, a preference will be given “firstly of local
governmental units, secondly of State governmental units, and thirdly of all
other governmental units.”

Vote for the Paul amendment TODAY on the Bankruptcy Reform

Act!
Sincerely,

Ron Paul