05.24.16

Senator David Perdue Votes To Overturn President Obama’s Retirement Regulation

WASHINGTON, D.C.—U.S. Senator David Perdue (R-GA) today issued the following statement after voting to overturn the Obama Administration’s new retirement regulation which limits access to retirement investment advice:

“Our country is in the midst of a debt crisis and Americans are concerned about their financial well-being. Instead of limiting investment advice, President Obama and the Department of Labor should be promoting more retirement options for people wanting to save for their future. President Obama’s legacy of burdensome regulations has hurt the very people he claims to champion—the working middle class. Today, the Senate voted to get the federal government out of the way of Americans working hard to save for their retirement.” 

Additionally, Senator Perdue co-sponsored two bills that would require Congressional approval before any investment and retirement savings rules issued by the Obama Administration go into effect: the Affordable Retirement Advice Protection Act, introduced by Senator Isakson (R-GA), and the Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act, introduced by Senator Mark Kirk (R-IL).