Local Government News
Ranking Member Cassidy, Budd Slam DOL’s New Fiduciary Rule Threatening Americans’ Access to Retirement Savings
WASHINGTON – Today, U.S. Senators Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, and Ted Budd (R-NC) expressed strong opposition to the Department of Labor’s (DOL) new fiduciary rule, citing concerns about its impact on Americans' access to retirement savings.The new rule, which expands DOL’s regulatory power over financial advisors, has drawn criticism for increasing compliance costs for advisors and potentially limiting investment options for low-income Americans. Senators Cassidy and Budd highlighted the...
Ranking Member Cassidy Rebukes Biden’s New Overtime Rule
U.S. Senator Bill Cassidy, M.D. (R-LA), the ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, strongly criticized the Department of Labor's new overtime rule, stating that it will have detrimental effects on American families and businesses. The rule raises the threshold for salaried employees to be eligible for overtime to $58,656, a 65 percent increase from the previous level set during the Trump administration. Cassidy expressed concerns that the policy will lead to job losses, lower wages, and increased prices for consumers.Cassidy...