Senate votes to eliminate Obama-era retirement rule

Republicans are only for states rights when it hurts people.

http://thehill.com/blogs/floor-action/senate/326484-senate-votes-to-eliminate-obama-era-retirement-rule
By Jordain Carney - 03/30/17

A resolution eliminating an Obama-era regulation that allows states to create retirement accounts for low-income workers is headed to President Trump's desk after a Senate vote on Wednesday.

Senators by a 50-49 margin approved the House-passed resolution, which rolls back a rule that allows states to create retirement plans for private-sector workers whose employers do not offer their own retirement plans.

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Democrats, arguing the country faces a "retirement crisis," pressed to keep the rule in place. They have stressed that states need more flexibility to help low-income workers save for retirement.

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Seven states have taken a steps toward creating programs under the Obama-era rule, and Democrats noted that another 23 states are currently considering the program.

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GOP lawmakers are using the Congressional Review Act to undo regulations implemented late in President Obama's tenure by a simple majority.

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http://www.politicususa.com/2017/03/30/senate-republicans-voted-retirement-accounts-income-workers.html

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Small business owners are condemning the Republican vote, “Small business owners wear many hats, but being investment advisers should not be one of them,” said Lisa Hagerty, a small business owner in Stowe, Vermont. “Programs like this that put small business owners in the best position care for themselves throughout their lives, while helping employees do the same, are a no-brainer. So why are Republicans in Congress dismantling them?”

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