Protecting Access to Affordable Retirement Advice

Statement

The U.S. House of Representatives has passed a resolution, H.J. Res 88, to block the Department of Labor's finalized fiduciary rule. Congressman Bill Flores (R-Texas) released the following statement regarding passage of the resolution:

"Over the last several years we have seen a decline in the amount of income the average American is saving for retirement. Despite this troubling trend, the Obama Administration continues to put forth rules that hurt hardworking American families. The Department of Labor's harmful fiduciary rule restricts access to retirement investment advice and makes it harder for small businesses to help their employees plan for retirement. Today, the House voted to block the administration's attempt to raise costs, limit choices and restrict access for Americans who seek financial advice for retirement savings. The federal government should not be in the business of setting up barriers for those who want to plan ahead and save for their future. Hardworking Americans must have the ability to seek out the financial advice they see fit to meet their needs as they plan for life events and for their retirement. My House Conservative colleagues and I remain committed to fighting against the president's continued attacks on our families and Main Street America."

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