While the resolution to block the Department of Labor's fiduciary rule will likely make it to President Barack Obama's desk, Rep. Phil Roe, R-Tenn., conceded Tuesday afternoon that the president will veto it and the industry "will be stuck" with DOL's rule.
At an event held on Capitol Hill by the U.S Chamber of Commerce, Roe, chairman of the Subcommittee on Health, Employment, Labor and Pensions, said that following the House Rules Committee meeting Wednesday afternoon, the rule for the resolution, HJ Res. 88 – which passed the House Education and the Workforce Committee on April 21 – will be considered on the House floor Thursday.
