Wilson Speaks on Harmful Fiduciary Rule
Congressman Joe Wilson (SC-02) spoke on the House floor today in favor of H.J. Res 88, a resolution to disapprove of the Department of Labor’s fiduciary rule. Wilson is cosponsor of this legislation.
Remarks as prepared for delivery:
Thank you Congressman Phil Roe for yielding. I am in strong support of H. J. Res 88, to disapprove of the Department of Labor’s fiduciary rule.
The fiduciary rule is yet another one of the President’s burdensome, expensive regulations. Instead of helping American families by expanding access to financial advice, the Department of Labor has overly restricted the definition of a fiduciary and creates new obstacles for small business owners.
This Administration’s misguided fiduciary regulation will make it harder for small businesses to assist their employees in preparing for retirement, increases costs, and limits choices for those who need this advice the most—American families.
n the past months, I’ve met with business leaders and financial advisers across the Second Congressional District who share my concerns about the negative impacts of this unworkable regulation.
I am grateful to cosponsor H.J. Res 88, disapproving of the Department of Labor’s fiduciary rule and look forward to continuing to work with my colleagues in the coming months to ensure that American families have access to reliable and affordable advice that they need to create financial stability for retirement. I appreciate the leadership of Rep. Phil Roe for sponsoring this resolution and urge my colleagues to vote in support.