[Congressional Record (Bound Edition), Volume 162 (2016), Part 4]
[House]
[Page 5432]
[From the U.S. Government Publishing Office, www.gpo.gov]




              INVESTMENT SPURRED BY SOUND FIDUCIARY RULES

  (Mr. LaMALFA asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. LaMALFA. Mr. Speaker, yesterday the House passed H.J. Res. 88, a 
measure to reject the Department of Labor's misguided fiduciary rule.
  Just like ObamaCare gets between you and your doctor, this conflict-
of-interest rule attempts to put Washington between you and your 
financial adviser, insisting on a broad, onerous piece of regulation 
rather than a simple solution based on best business practices that 
attracts plaintiff attorneys and a bonanza of new lawsuits.
  Even State officials in New York, which is a Democratic stronghold, 
have proposed simpler solutions that inform consumers without burdening 
investment businesses, if only the Department of Labor would listen.
  I implore the Senate to pass this measure and the President to listen 
to State officials, actual financial investors, and small investors, 
who have developed a better alternative, by signing this legislation 
into law and not stymieing investment for families and our economy.

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