U.S. Representative Peter J. Roskam, Chairman of the Ways & Means Tax Policy Subcommittee and former Chairman of the Oversight Subcommittee, released the following statement after President Trump directed the Department of Labor to review the fiduciary duty rule:
"I'm glad to see the Trump Administration recognize the potentially devastating effect of President Obama's far-reaching fiduciary rule. I look forward to working with the new administration to craft a standard that raises the bar for the financial services industry without eliminating access to quality retirement advice. All Americans should have financial planning resources available to them, not just the wealthiest among us."
Last Congress, Chairman Roskam wrote bipartisan legislation to protect working families saving for retirement.