- Reports on Friday indicated that Republicans may include a cap on contributions to traditional 401(k) plans in their tax-reform package.
- This change could help GOP leaders with the tax plan's tricky budget math.
- President Donald Trump tweeted his opposition to such a change on Monday, saying 401(k) tax deferment is a "great and popular middle class tax break."
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Trump says 'there will be NO change to your 401(k)' after reports Republicans want new caps on retirement savings
President Donald Trump tweeted his opposition to a possible cap on traditional 401(k)s contributions that GOP leaders were considering foe their tax plan.
President Donald Trump used Twitter to dispel reports that the forthcoming Republican tax-reform plan would include big changes to how people could save for retirement.
Reports on Friday said that GOP leaders were considering a cap on the amount of money that could be placed in a traditional, tax-deferred 401(k) to help pay for part of their tax plan.
On Monday, Trump said this change would not take place because it is a popular middle-class tax break.
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