Rep. Joe Wilson, a member of the House Committee on Education and the Workforce, introduced a bill Friday to delay the implementation of the Department of Labor's fiduciary rule by two years.
Labor's "fiduciary rule is one of the most costly, burdensome regulations to come from the Obama administration," Wilson, R-S.C., said in a statement introducing the bill. "Rather than making retirement advice and financial stability more accessible for American families, they have disrupted the client-fiduciary relationship, increased costs and limited access."
The rule's first compliance date is April 10. Wilson said that delaying the implementation of this "job-destroying rule" would give "Congress and President-elect Donald Trump adequate time to re-evaluate this harmful regulation."
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