Political Quotes

“We talk a lot in this Chamber about the negative impacts of overly burdensome rules and regulations handed down by bureaucrats in Washington. Nowhere are the potential negative consequences more evident than the 700-page rule proposed by the Department of Labor. Among other things, it expands the Department's complex pension rules to cover IRAs as well as changes the definition of who is classified as a financial adviser. Ultimately, I believe this rule will restrict access to advice and drive up costs for small businesses. It also illustrates a fundamental difference between Republicans and Democrats. Democrats want everyone to end up in the same place with identical outcomes, and Republicans believe in providing individuals with the same level of opportunity. This rule seeks guaranteed outcomes for everyone, but there are inherent risks associated with investing. While I am open to modernizing current rules in order to protect consumers against predatory practices that pose unnecessary risks, I will not support efforts that make it harder for American families to save and plan for retirement. ____________________”