Press Releases

Congressman Earl L. "Buddy" Carter (Ga-01) voted today to ensure Americans are able to access affordable retirement advice. H. J. Res. 88, the Protecting Access to Affordable Retirement Advice Act, passed the United States House of Representatives today with Carter's support and will prevent the Department of Labor's controversial "fiduciary" rule from going into effect. The rule finalized in April alters the definition of a "fiduciary" making it harder for low- and middle- income families to save for retirement.

"It is unacceptable that the Obama Administration is threatening the retirement security that hardworking Americans deserve," Carter said. "Middle class families will be hit the hardest by this misguided rule. It will hurt those who need the most help planning for retirement and could even leave many unable to save for retirement at all."

The Department of Labor's rule will also make it significantly more difficult for small businesses to seek the investment advice they need to provide for their employees to plan and save for retirement.

"Having owned and operated community pharmacies for nearly thirty years, I take pride in having provided my employees with the tools they needed to achieve financial independence," Carter said. "One of the most important tools in this effort were retirement invest plans so they could save to retire comfortably and now this is under attack. Like many small business owners, I consider my employees part of my family and that is why H. J. Res. 88 is so important. I know what cutting off this resource could mean for hard working Americans and their families and I refuse to let that happen."

Carter is a member of the Committee on Education and the Workforce and has been a leader in the effort to block implementation of the "fiduciary" rule.