Appropriations subcommittees on Capitol Hill — in the House and now in the Senate — have taken a shot at blocking the Labor Department’s fiduciary proposal by denying funding for the measure.
House Bill
On June 24, the House of Representatives’ Appropriations Committee approved a fiscal year 2016 Labor, Health and Human Services (LHHS) funding bill that would eliminate from the DOL budget any money to implement the fiduciary rule. The vote on the rule was 30-21, with all Democrats voting against it. “Through the inclusion of several important policy provisions, we have taken steps to rein in the excessive overreach of the Department of Labor and the National Labor Relations Board,” LHHS Subcommittee Chairman Tom Cole said.
Senate Bill
One day earlier, the Senate Appropriations Subcommittee on Labor, Health and Human Services, and Education and Related Agencies approved a $153.2 billion measure that funds a range of priorities involving health, education and workforce training and development for FY 2016.
In a press release, the committee notes that its budget recommendations include “several provisions to restrain regulatory overreach by the administration, including Fiduciary Rule at the Department of Labor.”
The full Senate Appropriations Committee will vote on the bill on June 25.
House Bill
On June 24, the House of Representatives’ Appropriations Committee approved a fiscal year 2016 Labor, Health and Human Services (LHHS) funding bill that would eliminate from the DOL budget any money to implement the fiduciary rule. The vote on the rule was 30-21, with all Democrats voting against it. “Through the inclusion of several important policy provisions, we have taken steps to rein in the excessive overreach of the Department of Labor and the National Labor Relations Board,” LHHS Subcommittee Chairman Tom Cole said.
Senate Bill
One day earlier, the Senate Appropriations Subcommittee on Labor, Health and Human Services, and Education and Related Agencies approved a $153.2 billion measure that funds a range of priorities involving health, education and workforce training and development for FY 2016.
In a press release, the committee notes that its budget recommendations include “several provisions to restrain regulatory overreach by the administration, including Fiduciary Rule at the Department of Labor.”
The full Senate Appropriations Committee will vote on the bill on June 25.
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