In a last-ditch effort, five US Senate Democrats are urging President Donald Trump to veto a resolution that would repeal a Labor Department rule designed to help cities launch retirement savings plans for low-income private-sector workers by exempting such programs from strict federal pension protection laws.

In an April 5 letter that Reuters saw on Thursday, the lawmakers told Trump, a Republican, that killing the rule could harm more than 2 million Americans who would otherwise benefit from city-run retirement plans.

“We ask you to work with us to increase access to retirement savings programs and promote greater retirement security,” they wrote.

The senators signing the letter are Patty Murray of Washington and Ron Wyden of Oregon, the top Democrats on committees overseeing pensions and tax matters; Maria Cantwell of Washington; Kirsten Gillibrand of New York; and Robert Casey of Pennsylvania.

The resolution on city-run retirement plans is one of 13 measures that Congress has passed to repeal rules enacted under previous president Barack Obama, a Democrat.

An obscure law called the Congressional Review Act gives Congress a tool to repeal regulations that it finds objectionable. All that is required is a simple majority vote in both chambers and the president’s signature.

Full Content: Reuters