WASHINGTON, D.C.—Majority Whip Steve Scalise (R-La.) today issued the following statement upon House passage of H.R. 1090, the Retail Investor Protection Act, sponsored by Rep. Ann Wagner (R-Mo.):
“Yet again, the Obama Administration is pushing a radical regulation that will hurt hardworking taxpayers—this time raising costs and reducing access to retirement investment advice for those who need it most. That’s why I’m thankful for my friend Ann Wagner’s leadership in passing the Retail Investor Protection Act, which protects Americans from this misguided regulation that would reduce American workers’ overall retirement savings by billions of dollars and disproportionately harm low- and middle-income families. Americans should be able to prepare for their retirements without costly interference from federal bureaucrats, and House Republicans have their backs as they work toward a retirement where they can enjoy the financial security they’ve planned for and earned.