The current debate on national bankruptcy policy is affecting agriculture with federal legislation pending that would extend the life of the provisions for family farmers under Chapter 12 of the bankruptcy code. The rising tide of bankruptcy filings in the US, which has occurred despite a strong economy, has prompted legislative proposals to address the problem. In 1997, a record 1.4-million bankruptcy petitions were filed, up 19.1% from a year earlier and the 7th consecutive annual record.