/  Sessions Votes to Block Government Takeover of Retirement Savings 

Sessions Votes to Block Government Takeover of Retirement Savings 

WASHINGTON, D.C. - U.S. Congressman Pete Sessions (R-TX), Chairman of the House Committee  on Rules, released the following statement after the passage of two measures that disapprove of rules from the Department of Labor:
 
"In November the American people rejected the Obama Administration's assault on the free market place and entrusted Republicans with the responsibility of putting an end to their job-killing regulations. Today the House rolled back two more misguided, unnecessary rules that were enacted in the last days of the Obama Administration.  Unsurprisingly, these two rules fell short of their intended goal of creating a “safe harbor” for American workers to save their hard-earned money, and instead resulted in private-sector workers being forced into government-run retirement savings plans with fewer protections and less control over their savings. Congressional Republicans now have the opportunity to protect workers and small businesses from flawed Obama-era regulations and we take seriously our directive from the American people to continue our fight to reverse course on ill-advised rules and provide Americans with the financial security and certainty that they deserve."

To learn more about H.J. Res. 66, Disapproving the rule submitted by the Department of Labor relating to savings arrangements established by States for non-governmental employees, click here.

To learn more about H.J. Res. 67, Disapproving the rule submitted by the Department of Labor relating to savings arrangements established by qualified State political subdivisions for non-governmental employees, click here.  
 

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Created: February 15, 2017