ROKITA STATEMENT ON DEPARTMENT OF LABOR'S FIDUCIARY RULE OVERREACH

Press Release

This morning, the Education and the Workforce Committee will markup H.J. Res. 88. This resolution would block the Department of Labor's (DOL) burdensome "fiduciary" rule. This rule would make it harder for Americans to save for retirement, restrict access to retirement advice, and create new hurdles for small businesses who want to offer their employees retirement options.

"The DOL's new "fiduciary' rule is the latest over-regulation of the private sector we have experienced under President Obama. This rule will deny retirement options while also driving up the cost of receiving financial consulting. These effects will prevent many Hoosiers from receiving the retirement advice they need and deserve. I look forward to working with my colleagues on the committee to advance this resolution to the floor as I continue to fight on behalf of all Hoosiers against government red tape," said Rep. Rokita.

Under the Congressional Review Act, Congress may prevent a federal agency from implementing a rule by passing a resolution of disapproval. H.J. Res 88 would keep the DOL's fiduciary rule from going into effect in April of 2017.

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