On the recordApril 28, 2016
I have Hudson and Ava with me. That is right. I thank the chairman. Mr. Speaker, I rise in support of H.J. Res. 88, and I commend my colleague from Tennessee for bringing this important measure forward. In life and in public service, we are not just responsible for our intentions, we are responsible for the results, the true consequences of our actions. Unfortunately, the Obama administration often seems to ignore this simple life wisdom. My colleagues across the aisle have spent a lot of time today talking about their good intentions with this 1,000-page rule. Do you know what? It may be true that the Department of Labor's fiduciary rule was intended to protect consumers. The problem is the rule will, in fact, have the opposite result. We need more families saving for retirement, and those families need sound financial advice. Instead of increasing access to financial advice for those who need it the most, this rule will cut off access to affordable retirement counsel for many lower- and middle-income Americans. That is the true result of the so-called fiduciary rule. Dr. Roe's legislation, H.J. Res. 88, would stop this rule from taking effect, stand up to the Federal bureaucrats, and protect American families who are struggling to save for their futures. I urge my colleagues to support this commonsense bill.
