[Congressional Record Volume 161, Number 159 (Wednesday, October 28, 2015)]
[Extensions of Remarks]
[Page E1556]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





                          PERSONAL EXPLANATION

                                 ______
                                 

                          HON. KENNY MARCHANT-

                                of texas

                    in the house of representatives

                      Wednesday, October 28, 2015

  Mr. MARCHANT. Mr. Speaker, yesterday the House of Representatives 
voted on the Retail Investor Protection Act, which passed by a wide 
margin of 245-186. Allow me to make a clarification on my vote. I fully 
support this legislation and meant to vote `yea' on final passage, not 
`no'. Unfortunately, by the time I noticed the error, the vote had 
closed and I was unable to correct it. Voting `no' was not my 
intention.
  I am pleased the Retail Investor Protection Act passed the House with 
broad support. Like many of my constituents, and others across the 
country, I have serious concerns about the negative impacts that the 
Department of Labor's proposed `fiduciary rule' will have on the 
retirement savings options available to employees. I believe that the 
Retail Investor Protection Act properly addresses these concerns and 
contributes to the financial security of millions of Americans.
  On October 26, 2015, I joined my House colleagues on a letter to the 
Secretary of Labor that urged the Department to withdraw the proposed 
rule and commit to a process that avoids the arbitrariness, 
uncertainty, and inadequate analysis embodied in the proposed rule. I 
remain fully committed to these views and support the entirety of the 
Retail Investor Protection Act.

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