Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing, or another hot-button matter.
On May 15, Republican lawmakers introduced resolutions of disapproval (S.J. Res. 79, H.J. Res. 142) under the Congressional Review Act (“CRA”) regarding the Department of Labor’s final fiduciary rule. This development has been anticipated for months, although it is unclear at this time if Republicans have the necessary votes to pass the measure through both chambers of Congress. Sen. Joe Manchin (D-WV) was the only Democrat to join as a cosponsor on the resolution.
The CRA allows Congress to rescind regulations with a simple majority vote in both chambers for a period after a final regulation is presented to Congress. If Congress rescinds a rule using the CRA, the agency is prohibited from issuing a “substantially similar” rulemaking without further Congressional action. A CRA resolution can be vetoed by the president, and it would require a two-thirds vote in both chambers to overrule the veto. Because of that high bar, Congress has typically used the CRA when the Congressional review period carries over to the next Congress and a president from the other party takes office.
More information on the CRA is available here.
