“Flexing their majority, House Republicans approved House Joint Resolution 66 by U.S. Rep. Tim Walberg, R-Tipton., and H.J. Res 67 by U.S. Rep. Francis Rooney, a Republican from Florida, to torpedo a long-agreed upon retirement security programs in several states, including California. Republicans have employed a rarely used parliamentary procedure to put these bills on a track where committee review or debate will not be required. Why the rush? Because Wall Street investment firms fear their profits will take a hit from state-run retirement programs that will offer a new choice to consumers. This – even though the investment industry has historically and categorically ignored this employee class – namely, middle- and lower-income workers at medium- and small-sized businesses.”

Read the article.