Foxx, Walberg Praise Executive Action to Protect Low- and Middle-Income Retirement Savers

Rep. Virginia Foxx (R-NC), chairwoman of the House Committee on Education and the Workforce, and Rep. Tim Walberg (R-MI), chairman of the Subcommittee on Health, Employment, Labor, and Pensions, today issued the following joint statement after President Trump took action to delay implementation of the Department of Labor's flawed fiduciary rule:

President Trump has taken a necessary and appropriate step that will protect low- and middle-income families from a devastating regulation. The so-called fiduciary rule would have made it more difficult and more costly for many families to save for retirement. For years, we expressed our willingness to work with the Department of Labor on a responsible approach that would protect access to affordable retirement advice and require advisors to serve the best interests of their clients. Our repeated offers were rejected by the previous administration, but the offer still stands. We look forward to working with the Trump administration to enhance protections for retirement savers and help Americans retire with the financial security they need.

Read this original document at: http://edworkforce.house.gov/news/documentsingle.aspx?DocumentID=401257