Lawmakers raised scant attention to retirement issues during theroughly three-hour confirmation hearing for Labor Secretary nominee R. Alexander Acosta.

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Sen. Elizabeth Warren, D-MA, directed questions on the proposeddelay of the Labor Department’s fiduciary rule in the waningminutes of the Health, Education, Labor, and Pension committee’shearing, asking the nominee for his general impression of therule’s intention to protect American’s retirement savings byassuring they receive non-conflicted investment advice.

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“Do I think it is important to protect the American retiree?Absolutely,” said Acosta.

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Warren responded, saying the fiduciary rule will do that. “Do you think the rule isa good idea?” asked Warren.

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“The rule goes far beyond addressing the standard of conduct ofinvestment advisors,” responded Acosta.

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Warren took immediate exception to that interpretation, arguingthe rule is limited to addressing investment advisors’ standard ofconduct.

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Asked if he would support the rule if confirmed, Acosta said hewould follow the orders issued in a Presidential memorandum toexecute a new economic and legal analysis of the rule.

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Warren accused Acosta of failing to give the committee straightanswers on his position on the fiduciary rule and other Obama-eraLabor regulations, claiming he was “hiding behind” PresidentTrump’s executive orders instructing agency heads to review pendingand existing regulations.

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“If you can’t give me straight answers on your views to stand upfor American workers, then I don’t have any confidence you are theright person for the job,” said Warren.

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Immediately following her line of question, Sen. LamarAlexander, R-TN, chair of the HELP committee, jumped in to defendAcosta’s reluctance to articulate specific policy prescriptionsbefore he is confirmed to head Labor. “Are you the Secretary ofLabor yet?” asked Alexander. Acosta answered “no.”

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A longstanding opponent of the fiduciary rule, Alexander arguedit will deprive millions of Americans of access to investmentadvice, and said it is “thoroughly reasonable” for Acosta to reviewthe rule according to Trump’s presidential memorandum.

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While questions on the fiduciary rule were limited to Sen.Warren’s inquiry, Acosta gave the committee some indication of howhe would oversee the Labor Department in answering questions onother issues.

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The committee spent most of the hearing inquiring about workersafety issues, whether Acosta would appeal a federal court rulingthat blocks a controversial Obama-era overtime rule, how he wouldaddress the more than 20 percent cut in Labor’s budget proposed inthe White House’s recently released budget blueprint, whether hewould cut funding for employment training programs, and how hewould address the gender pay gap.

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Sen. Patty Murray, D-WA, ranking member of the HELP committee,asked Acosta if he would bow to political pressure from the Trumpadministration, something she said has been apparent in the earlydays of the administration.

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“I’ve heard that concern,” said Acosta. “I don’t believe for asecond senior officials would or should bow to political pressure.We all work for the President. And we will follow his direction,unless we feel we can’t. And then we would resign.”

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At several points during the hearing, Acosta was reluctant toestablish his priorities if confirmed. Asked if he would make thegender pay gap issue a priority by Murray, Acosta said genderdiscrimination “should not occur.”

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But “if everything becomes a priority then things are no longera priority,” he added.

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Acosta said he believes in a unitary executive. “Ultimately, wehave a boss,” said Acosta.

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“That is what I’m worried about,” responded Murray.

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‘Largest pension crisis in American history’

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Sen. Al Franken, D-MN, was the only lawmaker to raise questionson the Pension Benefit Guaranty Corp.’s underfunded multiemployerpension insurance program, which is projected to be insolvent by2026.

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Specifically, Franken probed Acosta for a solution to theTeamsters’ Central States Pension plan, which is projected to beinsolvent in the next 10 years, potentially meaning cuts in thepensions of 400,000 plan participants.

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“If confirmed, one of the largest pension crisis in Americanhistory will land on your desk,” said Franken. Labor Secretarieschair the board that oversees PBGC.

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Acosta said he has not seen one proposal that would adequatelyaddress PBGC’s multiemployer plan funding issues.

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Asked by Franken if he would promise that no pension checkswould be cut, Acosta said, “I wish I could commit to that,” andnoted that the country’s pension crisis extends to a $2 trillionfunding shortfall in state and local government pensions.

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Workers that have contributed to pensions throughout theircareers have expectations, said Acosta. “I fully understand that.If I could come up with a solution on the spot, I wish Icould.”

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Today was Acosta’s fourth Senate confirmation hearing in hiscareer. He was appointed by George W. Bush to sit on thefive-member National Labor Relations Board in 2002, then as thehead of the Justice Department’s civil rights division, and lateras a U.S. Attorney for the southern district of Florida.

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He has served as the dean of the College of Law at FloridaInternational University since 2009, and chairman of the board ofU.S. Century Bank, a Miami-based community bank, since 2013.

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Members of the HELP committee have 10 days to submit furtherwritten questions for the record. Acosta will need support from amajority of HELP committee members to advance a confirmation voteto the Senate floor, where he will also need a simple majority.

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Several media reports leading up to the hearing suggestedcommittee Democrats would hammer Acosta on three controversies inhis past.

  • One regarded an amicus brief he filed to an Ohio courtconsidering voter rights issues during the 2004 presidentialelection. Acosta was then head of the civil rights division atJustice.

  • Another involved an Inspector General report showing that anattorney at Justice under Acosta gave political preference toconservative hires for non-political career positions.

  • And another other regarded a plea deal Acosta struck with abillionaire hedge fund manager and registered sex offender as theU.S. Attorney in Miami.

While committee Democrats raised those issues, the questions didnot come close to overshadowing lawmakers’ inquiries on Acosta’spolicy perspectives.

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