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Saturday, September 2, 2017

Trump administration and congressional GOP will return to a packed schedule, but maintain attack on working people [feedly]

Trump administration and congressional GOP will return to a packed schedule, but maintain attack on working people
http://www.epi.org/blog/trump-administration-and-congressional-gop-will-return-to-a-packed-schedule-but-maintain-attack-on-working-people/

Congress returns from a month-long recess next week to a packed agenda. Lawmakers must pass a government spending bill by September 30 in order to avert a federal government shutdown.  They must also increase the debt ceiling or risk defaulting on the national debt. In spite of Republican control in both chambers of Congress, action on these critical measures is complicated by divisions within the party over whether to tie the debt limit vote to spending cuts. Funding for President Trump's border wall and the need to consider disaster relief funding for those areas impacted by Hurricane Harvey loom over any government spending measure. One thing is clear—September is likely to be filled with congressional chaos. In the midst of that chaos, the Trump administration and congressional Republicans will continue to advance the anti-worker agenda they have been working to carry-out since taking office. While those actions may not get attention proportional to their impact, EPI will continue to monitor and report on these important issues. Here are some critical actions to look out for this month:

Trump continues to attack workers' retirement, costing them billions in retirement savings

Just this week, the Department of Labor (DOL) published a proposal to delay full implementation of the fiduciary rule (the rule that requires financial advisers to act in the best interest of their clients) for another 18 months. This delay would cost retirement-savers 10.9 billion over the next 30 years. Public comments on the proposal are due September 15. It is expected that DOL will quickly finalize this delay. Workers should be able to invest for retirement without worrying about their financial advisers steering them toward investments that pay a lower rate of return for the saver, but offer a higher commission to the adviser. The only people who will benefit from the Trump administration's DOL actions here are unscrupulous financial advisers and financial services companies.

Trump continues efforts to take away the rights of millions of workers to get paid for working overtime  Read more


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