The many concessions made to stakeholders in the Department of Labor's finalized fiduciary rule are not enough to mollify Republican lawmakers, who this week introduced a joint resolution to block the rule's implementation.
Filed under the Congressional Review Act, which gives Congress 60 days to consider any new regulation issued from the executive branch, the resolution was sponsored by Representatives Phil Roe, R-Tennessee, Charles Boustany, R-Louisiana, and Ann Wagner, R-Missouri in the U.S. House of Representatives. On Thursday of this week, the Committee on Education and the Workforce will vote to advance the resolution.
Senators Johnny Isakson, R-Georgia, Lamar Alexander, R-Tennessee, and Mike Enzi, R-Wyoming, sponsored the resolution on the Senate side.
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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.
