The Senate on Thursday confirmed Alexander Acosta to head the U.S. Department of Labor. CEI experts on labor and financial policy, respectively, offered their thoughts on what Acosta’s priorities should be.
Statement by Competitive Enterprise Institute labor policy expert Trey Kovacs:
Alexander Acosta’s first priorities as Labor Secretary should include immediately repealing current labor policies that discourage hiring and harm workers’ career prospects. That means determining the Trump administration’s path on the job-killing overtime rule, which is pending in court. It’s time to end the all pain, no gain government policies that limit worker choice and hamstring American employers. Acosta’s experience dealing with tough labor and employment issues at the National Labor Relations Board and the Justice Department’s Civil Rights Division will be useful to him in this effort.
Statement by CEI senior fellow John Berlau:
Alexander Acosta needs to immediately start slamming the brakes on the Department of Labor’s destructive “fiduciary rule”. The DOL clearly went beyond its authority from Congress by regulating the entire retirement system of 401(k)s and individual retirement accounts. The rule, starting June 9, would have a devastating impact on Americans’ access to financial advice and retirement options. President Trump has already ordered a review of the fiduciary rule, but Secretary Acosta should make sure this review is thorough and complete before the rule takes effect, so middle class savers do not suffer unnecessarily.