Education and Workforce Committee Chairman Tim Walberg (R-MI) issued the following statement after a federal court vacated the Biden-Harris fiduciary rule that would have caused serious harm to America’s savers:
“Putting a stop to the Biden-Harris fiduciary rule is the right decision. It repeated the same problems as the previous version that was struck down by the courts and would have expanded DOL’s authority beyond what Congress intended. “This rule would have made it harder for retirees and savers to get the advice and access the products they need to plan for retirement. Instead of helping, it risked limiting choices and increasing costs. “Striking it down helps ensure Americans can make the best decisions for their own financial futures without unnecessary government interference.”
