Week ahead: GOP looks to override Obama, find Zika deal

By Susan Ferrechio, Susan Ferrechio

Published June 19, 2016

The Republican-led House next week will attempt to override President Obama's veto of a bill that would eliminate a new Labor Department rule governing investment advisors.

Lawmakers will also vote on a package of healthcare bills, try to pass a major spending bill and are hoping to reach a final deal to fight the Zika virus. An aide to the House Appropriations Committee said "it is possible" a Zika bill will be ready for floor consideration.

GOP leaders have set a Wednesday vote to override Obama's veto of legislation that would kill the Labor Department's so-called fiduciary rule. Obama vetoed the bill earlier this month after it passed along party lines on April 28, with no Democratic support.

The legislation would kill the fiduciary rule imposed by the Obama administration that would require investment advisors to act in the best interest of clients, who may not realize there is a conflict of interest that may impact their investments. The rule is aimed at making it harder for investment advisors to steer people toward high-fee investments for which those advisers collect a fee.