Sen. Lamar Alexander, R-Tennessee, chairman of the Health, Education, Labor and Pensions Committee, sent a letter co-signed by 35 other Republican Senators urging Labor Secretary Thomas Perez to extend the 75-day comment period on the agency's proposed fiduciary rule to 120 days.
The letter comes after 18 Democrats in the House of Representatives and nine Democrats in the Senate sent separate letters last week requesting an extension as well.
The 75-day comment period, set to end July 6, "is not an appropriate amount of time," wrote Alexander and the Senate Republicans, who also noted the mounting bipartisan support to extend the comment period.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
