Public Protection Devastation Count: 14th Safeguard on the Chopping Block
May 2, 2017
Public Protection Devastation Count: 14th Safeguard on the Chopping Block
Senate Expected to Vote on State Retirement Savings Plan Rule This Week
This week, the U.S. Senate is expected to vote to repeal the second of two similar rules designed to help states set up retirement savings plans for workers. If signed by President Donald Trump, this will be the 14th rule repealed using the Congressional Review Act (CRA).
Currently, 40 million Americans do not have any retirement savings set aside to protect their future financial security, and 30 million of those lack access to a retirement savings plan through their employer. Overturning these rules would jeopardize the progress that has been made in states that already have enacted plans to provide retirement options – and could have a chilling effect on states considering similar legislation.
The CRA allows Congress – by majority vote in both chambers, with limited debate, no possibility of a filibuster and the president’s signature – to override recently issued public protections. Trump and Republicans in Congress have used the CRA at an unprecedented rate, rolling back safeguards that are popular with the public but opposed by big corporations.
Contact Public Citizen to speak with an expert on the CRA. Visit RulesAtRisk.org to learn more and view a list of rules still in the crosshairs of Congress.
###