U.S. Sens. Al Franken, D-Minn., and Chuck Grassley, R-Iowa, late last week called for a reversal of the 2012 Supreme Court decision in Hall v. United States, which the Senators say is making it harder for farm families to reorganize in the event of a bankruptcy.
The Hall v. United States decision reversed Chapter 12 bankruptcy laws, clarified in 2005, that allowed farmers to use profits from the sale of farm assets first to pay off creditors and then pay their taxes on the asset profits to the Internal Revenue Service.
