METAIRIE, LA – House Majority Whip Steve Scalise (R-La.) issued the following statement regarding the Department of Labor’s finalized fiduciary rule:

“Hard-working families looking to plan and save for their retirement should be entitled to the sound financial advice and plans that best suit their needs. Unfortunately, the Obama Administration has ignored the opinion of the American people, manifested in the thousands of comments criticizing this massive government overreach. Today’s destructive final ruling from President Obama’s Department of Labor will harm millions of lower and middle income Americans by limiting investment choices, reducing retirement options, and raising the costs of financial planning. The House committees on Ways and Means, Financial Services, and Education and the Workforce have worked tirelessly to hold the Administration accountable during the rule making process. The House will continue to fight this Washington-knows-best, one-size-fits-all radical regulation.”