President Donald Trump said there will not be changes totax-deferred retirement savings plans under his proposed tax plan,shooting down reports that House Republicans were consideringtweaking or capping one of the most popular breaks.
“There will be NO change to your 401(k),” Trump said Monday onTwitter. “This has always been a great and popular middle class taxbreak that works, and it stays!”
Trump's declaration is the first time he has weighed inspecifically on this portion of the tax overhaul debate.Republicans had been considering reducing the cap on the annualamount workers can set aside for their 401(k) retirement accounts,according to a New York Times report on Friday.
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