(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
This joint resolution disapproves and nullifies a Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice.
(The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)
Referred to the House Committee on Education and the Workforce.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Motion to reconsider laid on the table Agreed to without objection.
Motion to proceed to consideration of measure agreed to in Senate by Voice Vote. (consideration: CR S3065)
Measure laid before Senate by motion. (consideration: CR S3065-3084)
Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 56 - 41. Record Vote Number: 84.
Roll Call #84 (Senate)Passed Senate without amendment by Yea-Nay Vote. 56 - 41. Record Vote Number: 84.
Roll Call #84 (Senate)Message on Senate action sent to the House.
Presented to President.
Presented to President.
POSTPONED PROCEEDINGS ON VETO MESSAGE - Mr. Sessions asked unanimous consent that when a veto message on House Joint Resolution 88 is laid before the House on the legislative day of June 8, 2016, after the message is read and the objections of the President are spread at large upon the Journal, further consideration of the veto message and the joint resolution shall be postponed until the legislative day of Wednesday, June 22, 2016; and that on that legislative day, the House shall proceed to the constitutional question of reconsideration and dispose of such question without intervening motion. Agreed to without objection.
Vetoed by President.
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Vetoed by President.
The Chair laid before the House the veto message from the President. (consideration: CR H3537-3538)
The Chair announced that the objections of the President to H.J.Res. 88 would be spread at large upon the Journal and the veto message would be printed as a House document (114-140).
POSTPONED CONSIDERATION OF VETO MESSAGE - Pursuant to a previous order of the House, the Chair announced that further consideration of the veto message on H.J. Res. 88 shall be postponed until the legislative day of Wednesday, June 22, 2016; and that on that legislative day, the House shall proceed to the constitutional question of reconsideration and dispose of such question without intervening motion.
The Chair announced the unfinished business to be the consideration of the veto.
Pursuant to the order of the House of June 8, 2016, the unfinished business is the further consideration of the veto message of the President on House Joint Resolution 88. (consideration: CR H4125-4126)
DEBATE - The House proceeded with one hour of debate on the question of passage of H.J. Res. 88, the objections of the President to the contrary, notwithstanding.
The previous question on the motion to refer the bill and Agreed to by recorded vote: 229 - 175, 2 Present (Roll no. 337). (consideration: CR H4125)
Roll Call #337 (House)Failed of passage in House over veto: On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 239 - 180 (Roll no. 338).
Roll Call #338 (House)On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 239 - 180 (Roll no. 338).
Roll Call #338 (House)Motion to refer the bill and accompanying veto message to the Committee on Education and the Workforce. The Chair directed the Clerk to notify the Senate of the action of the House.