Political Quotes

“House Resolution 116 provides for consideration of two joint resolutions designed to protect working families by blocking harmful regulations through the Congressional Review Act process. In 1974, Congress passed and President Gerald Ford signed the Employee Retirement Income Security Act, or ERISA. This legislation, which has broad and bipartisan support, sets standards for employer- provided retirement plans to protect the workers of the United States of America. This regulatory framework for employer-provided retirement plans has been largely successful at helping working families save for retirement over the last 40 years. Unfortunately, in the waning days of his administration, President Obama put forward regulations to uproot this system that has worked for decades. The Obama administration's rules would pave the way for government-run IRAs--for bureaucrat-run IRAs--managed by States and certain municipalities. Employees in several States would be forced to automatically enroll in these government- and bureaucrat-run IRAs that are not subject to the important protections established by ERISA. In other words, in the waning days of the Obama administration, they sought to take back from workers the protections that were given to them when ERISA was passed 40 years ago. Let me say that again. Workers' ERISA protections will be out the window for those people in these government- and bureaucrat-run plans.…”