Provision of House spending bill would kill DOL fiduciary rule

September 20, 2017 by Mark Schoeff Jr.

The House is moving toward approval of a spending bill that contains a provision to kill the Labor Department’s fiduciary rule, the latest attempt by congressional Republicans to use legislative means to stop the regulation.

The House was set to vote on more than two dozen amendments to the appropriations measure Wednesday afternoon. The bill, along with the so-called rider on the DOL rule, is headed for certain approval by the end of the week.

But the $1.23 trillion bill that would fund government operations for fiscal 2018 has dim prospects in the Senate, due to opposition from Democrats to funding levels and various policy provisions. 

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Originally Posted at InvestmentNews on September 13, 2017 by Mark Schoeff Jr..