House Republicans are reportedly considering severe limitations on the use of the 401(k) in order to provide more funds for their big regressive tax cut. This would, of course, make retirement saving more difficult at the worst possible time for masses of baby boomers, and raise taxes on people like me.
Trump tweeted this morning that there will be no change to the 401(k). I would be comforted by this if I didn’t know that he will sign anything that reaches his desk as long as he can claim it’s a tax cut and call it a “win.”