[Congressional Record Volume 162, Number 109 (Thursday, July 7, 2016)]
[Extensions of Remarks]
[Page E1057]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              H.J. RES. 88

                                 ______
                                 

                         HON. SUZANNE BONAMICI

                               of oregon

                    in the house of representatives

                         Thursday, July 7, 2016

  Ms. BONAMICI. Mr. Speaker, I would like to express my opposition to 
H.J. Res. 88, a misguided attempt to prevent the implementation of the 
Department of Labor's Conflict of Interest rule that will safeguard 
Americans by making sure financial advisors are acting in the best 
interest of their clients. Too many people in Oregon and across our 
country are struggling to get by. I know the sacrifice that is involved 
in each and every dollar they set aside to contribute to their 
retirement.
   The Department of Labor didn't rush this rule. They took time, 
listened to perspectives from the industry as well as consumer 
protection groups, considered thousands of comments, and made 
thoughtful changes to make sure the conflict of interest rule is 
workable. That's a good thing. Retirement products are complex, and our 
constituents should be able to rely on the advice of professionals and 
be confident that those advisors are doing what's best for the retiree.
   Instead of voting to eliminate the rule, Congress should be focused 
on the challenges working families have balancing their 
responsibilities at home and in the workplace.
   That is what my home state of Oregon is doing.
   In January, employees in Oregon started earning sick days they can 
use when they get sick, or to care for a sick child or family member. 
They can access sick time for preventive health care, or in cases of 
domestic violence.
   About half a million workers benefit from this law, helping make 
Oregon a better place to live, work, and thrive. Workers shouldn't have 
to choose between paying their rent or taking care of themselves or 
loved ones.
   Stories and personal experiences demonstrate the importance of paid 
sick days. I would like to tell the story of Erin, who lives in 
Portland, Oregon. To make ends meet, Erin works 75 hours a week at two 
part-time jobs as a seamstress. She said, ``Before the law passed, if I 
missed one day of work I wouldn't get paid and I couldn't afford to pay 
my bills. Recently, I woke up barely able to move and was in so much 
pain that I knew I needed help and couldn't go to work. After a few 
minutes of stress and panic I realized that I had paid sick days. I 
called in and was able to stay home to get the care I needed to 
recover. It's a great relief to be able to have the safety net of paid 
sick days. I know that I don't have to make myself even sicker and feel 
worse just because I will miss out on my next paycheck. I'm so grateful 
for sick days because I live paycheck-to-paycheck and no longer have to 
worry about my finances when I am sick for a day or two.''
   It's time our workplace practices address the needs of our 
workforce. Oregon took a step toward leveling the playing field--
especially for low-wage workers--to allow them to care for themselves 
and their families.
   In Congress, we should pass the Healthy Families Act so workers 
across the country have the same opportunities as Oregonians like Erin. 
That is where Congress should be focused, not trying to dismantle 
important consumer protections for American's retirement savings.
   Mr. Speaker, I voted against H.J. Res. 88 and will continue to 
support the implementation of this rule.

                          ____________________