House votes to block DOL fiduciary rule
May 3, 2016 by Melanie Waddell
The House late Thursday passed H.J. Res. 88, the bill introduced by GOP lawmakers under the Congressional Review Act that would block the Department of Labor’s fiduciary rule.
House Speaker Paul Ryan said after the 234-183 vote in favor of the Protecting Access to Affordable Retirement Advice, that “bureaucrats in Washington, D.C. have no business getting between you and your financial planner. But that’s what the Obama administration’s fiduciary rule does.”
Ryan, R-Wis., who has come out against DOL’s rule in tweets and statements, argued like other GOP lawmakers that the rule is “Obamacare for financial planning,” That’s why, Ryan continued, “the House has exercised its powers under the Congressional Review Act to reject the administration’s onerous rule.” Click HERE to read article
