GOP leaders, fresh off their tax reform victory, are banking on Washington’s anti-regulation climate to help them pass a rider in a House spending bill that would completely vacate the Labor Department’s fiduciary rule. The rider to kill the rule has been attached to spending bills for several years, but it’s been successfully struck down by Democrats. There is conjecture among some experts, however, that this year could be different. The fate of the department’s rule will live or die by the ability of Democratic leaders to negotiate the rider out of the bill, as they have in the past. But there is also speculation that Democrats may be more willing to sacrifice the rule as a concession for items high on their agenda.
Financial Advisor (01/10/18)
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