Senate moves to reject new DOL fiduciary rule

May 26, 2016 by Arthur D. Postal

The U.S. Senate narrowly passed a resolution Tuesday that would reverse the DOL’s new fiduciary rule, but a veto by President Obama, seen here with Secretary of Labor Thomas Perez, is likely.

WASHINGTON — The Senate on Tuesday joined the House in supporting a resolution that would end the Department of Labor’s new fiduciary standard rule. The vote was 56-41.

However, the resolution was generally seen as an exercise in political gymnastics as it lacks the 60 votes needed in the Senate to overcome what President Obama said in April he would veto if presented to him. Click HERE to read more…

Originally Posted at Lifehealthpro on May 25, 2016 by Arthur D. Postal.