WASHINGTON, DC – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Rules Committee, today issued the following statement after voting to disapprove of the U.S. Department of Labor’s fiduciary rule:
“Today’s dismal GDP report solidifies the fact that this Administration’s policies are strangling economic growth and making it harder for Americans to make ends meet. In these uncertain times, this Administration should not be enforcing more rules and regulations that harm small businesses, families, and individuals. Yet, earlier this month the Department of Labor finalized a misguided rule that places an unnecessary burden on financial planners and makes it harder for Americans to receive sound financial advice. Liberal Washington bureaucrats have no business meddling with Americans’ financial futures. Today I joined my colleagues in protecting families and businesses from this onerous rule and ensuring that all Americans can have the certainty they need to retire with the financial security and peace of mind they deserve.”
To learn more about H.J. Res. 88, Disapproving the rule submitted by the Department of Labor relating to the definition of the term “Fiduciary”, click here.
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