President Trump'S Fiduciary Duty Rule
Mr. Speaker, President Donald Trump on Friday released a Presidential Memorandum on the Fiduciary Duty Rule and I am grateful that President Trump has directed the labor secretary to thoroughly study this harmful rule. Under the Obama…
Mr. Speaker, President Donald Trump on Friday released a Presidential Memorandum on the Fiduciary Duty Rule and I am grateful that President Trump has directed the labor secretary to thoroughly study this harmful rule.
Under the Obama Administration, the Department of Labor released a burdensome fiduciary rule that increased the cost of financial planning reducing retirement advice for American families.
Families all over the country are struggling to save for their retirement and I applaud the President's swift action to study the harmful effects of this rule I am confident a study will result in a delay or revision of this ridiculous regulation of 1023 pages to define a profession.
I will continue to advance legislation calling for a delay of two years to give Congress and the Administration time to reassess the regulation. While I will continue to advance legislation, any delay would be a victory for hardworking American families struggling to save for retirement creating jobs.
In conclusion, God Bless Our Troops and may we never forget September 11th in the Global War on Terrorism.