Labor Department Secretary Tom Perez said Thursday the agency is well prepared to fight a lawsuit against the fiduciary rule by opponents if one is filed.

“They don’t have a legal issue to stand on,” said the Labor Secretary.

Instead of working to overturn the rule in Congress and potentially the courts, Perez said, industry opponents should be declaring victory since many of the changes they advocated made it into the final "best interest standard” rule.

The thing DOL heard most frequently in discussions after the rule was proposed is “the Department of Labor listens,” said Perez.

On a day when the House is expected to pass a resolution to void the fiduciary rule on a party-line or near party line vote, Perez said President Obama has promised to veto it if it comes to his desk.

While House and Senate Republicans have voiced loud support for the resolution, its chance of becoming law are near zero because it would take a two-thirds vote of both chambers to overturn the regulation.

Only one time in over 20 years has Congress succeeded in voiding a federal rule.

During Perez’s press conference, the leading Democrat on the House Financial Services Committee Maxine Waters called the fiduciary rule the finest work on behalf of consumers that House Democrats have been involved in.

She praised Perez as President Obama’s best cabinet secretary.

In a goof, the Labor secretary referred to her as “chairwoman.”

Afterwards, she laughed.