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The Department of Labor’s new fiduciary rule, which has been beset with lawsuits and Congressional efforts ever since it was published in the Federal Register nearly a year ago, should be “rescinded or withdrawn,” according to the chairman of the House Education and Workforce Committee.
Chairman Tim Walberg (R-MI) sent a letter to new Labor Secretary Lori Chavez-DeRemer, stating that the Committee “recognizes that many burdensome regulations were developed at DOL during the Biden-Harris administration,” and listed the DOL’s fiduciary rule first and foremost among a list of 12 regulations that the Committee thinks should be rescinded or withdrawn under Chavez-DeRemer’s new DOL leadership.
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