Dear Friends,
When talking with constituents at home in Arkansas, I hear a litany of concerns on a wide range of topics, including doing more to care for our veterans, balancing the federal budget, and replacing Obamacare.
Congress has passed targeted measures directed at each of these by increasing accountability at the Department of Veterans Affairs (VA), putting forth a balanced budget, and gutting Obamacare. Unfortunately the president has vetoed a lot of the good work we have done on these important issues, but these are fights we will continue to wage against the White House because the American people have made it very clear that they want action.
Another area where we must continue to battle the president is on ending his obsession with "government-knows-best" rules and regulations. And, in the coming weeks, we will have an opportunity to continue that fight when we make a move to deliver a blow to the Department of Labor's (DOL) so-called "Fiduciary Rule."
As someone who spent the majority of their professional life as a community banker and financial adviser, I have been a very vocal opponent against this redundant and confusing rule that will result in limiting access to professional retirement planning and guidance for those who need it the most.
DOL’s proposed rule will adversely affect those trying to save for retirement by limiting consumer choice and access to sound financial advice while increasing costs, particularly for lower income Americans trying to save for their retirements—exactly the opposite of what consumers need. While I have no doubt the rule is well-intentioned, it points to the broader systemic challenges that come with additional layers of bureaucracy and their effects on consumer choice.
Last year when the president put forth his proposals to curb 529 college savings plans and capping personal IRA accounts, Congress pushed back hard enough against the administration that the president scrapped these tone-deaf plans. The DOL Fiduciary rule is another example of the president's assault on Americans’ savings options. Our Nation’s families need more savings and investments opinions for retirement, not fewer.
Sincerely,
Representative French Hill |
News for the Week
U.S. Rep. French Hill invites UCA community to join in screening
Log Cabin Democrat
U.S. Rep. French Hill announced the University of Central Arkansas community is welcome to join him for a screening of the documentary “Rosenwald: The Remarkable Story of a Jewish Partnership with African American Communities” at 6 p.m. Monday in the College of Business auditorium on campus. “Rosenwald” is the story of a Jewish-American businessman and philanthropist Julius Rosenwald (1862 – 1932), who used his talent for leadership to serve others.
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Tax credit in health law target of award
ArkansasOnline
Second District U.S. Rep. French Hill gave his monthly Golden Fleece award to the Centers for Medicare and Medicaid Services, criticizing the agency for providing $750 million in tax credits to people who didn't necessarily qualify. The Little Rock Republican said there isn't a proper verification system in place to prevent illegal aliens from receiving the tax break, citing a report by the Senate Committee on Homeland Security and Government Affairs.
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