| Dear , I led a hearing in the House Financial Services Subcommittee on Capital Markets last week to examine SEC Chair Gensler’s harmful rulemaking agenda. During the hearing, we discussed with expert witnesses the anticipated negative impacts that the SEC’s rulemakings will have on U.S. capital markets, market participants, and main street investors. Watch here. 
Last week, I voted for legislation that would support Israel in its war against Hamas. Israel has a right to defend itself against brutal, unprovoked terrorist attacks. It is critical we advance funding that will help Israel destroy Hamas and protect its citizens against future attacks. I will continue to support Israel during this time of crisis, and I implore all my colleagues to speak out against the increasing waves of anti-Semitism we have seen across the country.
Federal courts rejected the 2016 fiduciary rule from DOL, and last week the Biden Labor Department announced a new proposed fiduciary rule, shamelessly trying to rebrand that prior failure in an effort that will only raise costs for Main Street investors and make it harder for Americans to save for their future. The facts are clear - the current regulatory framework ensures investment professionals are working in the best interests of their clients. States and regulatory bodies have already adopted best practices that protect consumers, and the Securities and Exchange Commission’s rules are working to benefit investors.
This new proposal will only disrupt the client-advisor relationship, reducing investment opportunities available to the public, and cause more investor confusion. The bottom line is that last week’s announcement will make investing more expensive, taking money out of the pockets of hardworking Missourians who are just trying to responsibly invest for retirement or even their children’s future. Read my full press release on the Department of Labor’s misguided rule here.
Since I first came to Congress in 2013, I have fought back the Department of Labor’s attempts to raise costs, limit choices, and restrict access to investments for hardworking Americans. This proposal marks the Department of Labor’s fourth attempt to issue a ‘fiduciary’ proposal. Each iteration of this decade-long effort has drawn significant investor as well as bipartisan Congressional concern. I called on the Department of Labor Deputy Secretary to answer for this reckless decision, read my full letter here.
I spoke at a House Judiciary Committee Member Day hearing in support of my legislation, the Child Online Safety Modernization Act (COSMA). One of my top priorities—and I believe it is a top priority for all of us here—is to protect children in our communities from exploitation. Tragically, our government is failing in this mission. The sexual exploitation of children has skyrocketed across the United States, and it is long past time for Congress to take substantive action to combat these horrific crimes.
My bill, COSMA, directly addresses this issue. COSMA would modernize and enhance the NCMEC CyberTipline by requiring reports from online platforms to include information that actually helps law enforcement identify and locate the children depicted in CSAM as well as the individuals involved in posting this illegal imagery. Watch my full speech here.
Last week, a federal court ruled the Securities and Exchange Commission had imposed arbitrary requirements on businesses that mandated extremely onerous reporting requirements. In Congress I have fought against overly burdensome regulations that have hamstrung innovation and economic growth, and I will continue that work so consumers don’t bear the brunt of overregulation in the form of higher prices. Read more here.
Sincerely, 
Ann Wagner
Member of Congress | 
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