Press Releases

On Thursday, April 21 at 9:00 a.m., the Committee on Education and the Workforce, chaired by Rep. John Kline (R-MN), will consider a resolution (H.J. Res. 88) that would block the Department of Labor’s controversial “fiduciary” rule. The resolution was introduced by Rep. Phil Roe (R-TN), chairman of the Subcommittee on Health, Employment, Labor and Pensions, along with Reps. Charles Boustany (R-LA) and Ann Wagner (R-MO). The markup will take place in room 2175 of the Rayburn House Office Building.

Under the Congressional Review Act, Congress may pass a resolution of disapproval to prevent, with the full force of the law, a federal agency from implementing a rule or issuing a substantially similar rule without congressional authorization. H.J. Res. 88 would block the Department of Labor’s fiduciary rule, which imposes a host of new mandates and regulatory requirements on retirement advisors and is scheduled to go into effect April 2017. Since the drafting of a similar rule in 2010, bipartisan concerns have been raised that the rule will make it harder for low- and middle-income families to save for retirement, restrict access to retirement advice, and create new hurdles for small businesses who want to offer their employees retirement options.

To learn more about the markup, visit www.republicans-edlabor.house.gov/markups.

To read the resolution, click here.