This week the Senate will vote on the confirmation of President Trump’s nominee R. Alexander Acosta as Secretary of Labor. Mr. Acosta is a dedicated public servant who has spent his career handling complex legal issues and has a record of proven management and federal agency experience. Lawmakers in the upper chamber this week should vote to confirm Mr. Acosta as the next Secretary of the Department of Labor (DOL).
During President Obama’s tenure the DOL issued a number of burdensome rules that threatened the U.S. economy and the livelihoods of millions of Americans. Since taking office President Trump has worked to reverse the DOL’s heavy-handed approach under Obama by issuing a number of Executive Orders to give relief to the business community, as well as by nominating Mr. Acosta to lead DOL.
Mr. Acosta has committed to supporting Executive Orders put forth by President Trump, primarily Trump’s order directing the DOL to review the Fiduciary Rule.
During a recent confirmation hearing before the Senate Health, Education, Labor and Pensions Committee, Acosta stated in regard to the fiduciary rule, “There is an executive action that directs how the Department of Labor will approach this rule. If I am confirmed as secretary of labor, I believe and support my following executive orders of the president.”
Acosta’s commitment to carry out Trump’s Executive actions on the Fiduciary Rule would be a welcome relief for American’s saving for retirement. As a result of the Rule, 7 million IRA holders could be disqualified from receiving investment advice, and the number of IRA’s opened annually would be reduced by up to 400,000.
Thankfully Mr. Acosta could soon be in a position to stop the rush to implementation of the Fiduciary Rule, among other onerous DOL rules put forth under Obama.
The U.S. Senate has previously confirmed Mr. Acosta on three occasions with bipartisan support – once for the National Labor Relations Board, once as an Assistant Attorney General, and also as U.S. Attorney for the Southern District of Florida.
Lawmakers in the Senate this week should vote to confirm Mr. Acosta as the next Secretary of Labor. Acosta’s credentials show he not only has the necessary experience but the ability to lead the DOL in a way that serves the Department’s mission but does so in a way that foster’s economic growth, instead of deterring growth through regulatory hurdles and bureaucratic red tape.
Photo Credit: Adam Polak