A subcommittee hearing in the U.S. House of Representativesrevealed differences in strategy as to how Republican and Democratcritics of the Department of Labor’s proposed fiduciaryrule will operate as regulators finalize a rule.

Health, Employment, Labor, and Pensions subcommittee chair Rep.David Roe, R-Tennessee, one of four lawmakers to recently circulatean outline for a legislative alternative to theDOL’s rule, called the agency’s proposal a“well-intended big-government scheme” that would make it harder forAmericans to save for retirement.

Roe called on the DOL to withdraw the rule and work withCongress to write alternative legislation.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.