U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after the House of Representatives passed a resolution in disapproval of the fiduciary rule submitted by the Department of Labor on April 6, 2016:

“The Department of Labor’s misguided fiduciary rule is a solution in search of a problem. It will cut off access to professional financial advice and planning for millions of our fellow citizens and it will hit those with modest assets and low to moderate incomes particularly hard. I am pleased the House of Representatives quickly brought today’s disapproval resolution to the floor as it takes the first step in stopping this dangerous rule. It is my hope the Senate will follow the House’s lead and pass this resolution without delay. As government programs lurch toward insolvency, Americans need and deserve access to professional retirement planning services now more than ever.”