Press Release ● Congress
For Immediate Release: 
June 22, 2016
Contact Info: 

Mariel Saez 202-225-3130

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement tonight after House Democrats defeated House Republicans' attempt to override President Obama's veto of the Republican resolution disapproving the Department of Labor's fiduciary rule: 

“Today, House Democrats defeated yet another Republican attempt to put companies’ profits ahead of consumers’ interests.  Even after President Obama vetoed their resolution to undo the Department of Labor’s new fiduciary rule, House Republicans brought it to the Floor again, attempting to override his veto.  We defeated their override attempt this evening because the Labor Department’s fiduciary rule will protect investors and ensure that retirement financial advisors always provide advice in their customers’ best interest and not in the best interest of their commission and their companies’ bottom line.  I want to thank Rep. Richard Neal for his hard work alongside Labor Secretary Tom Perez to promulgate a rule that received broad support from the public and even from Wall Street.  Americans who are investing to save for retirement deserve to know that Congress is on their side to ensure they get the fair advice they deserve.”