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Congress: No, We Totally Might Mess With Your 401(k) In This Tax Plan

Congress: No, We Totally Might Mess With Your 401(k) In This Tax Plan

6 years ago
Anonymous $ZOEEBQ1zf0

https://consumerist.com/2017/10/25/congress-no-we-totally-might-mess-with-your-401k-in-this-tax-plan/

Even though President Trump recently promised that your 401(k) retirement accounts would not be negatively affected by the ongoing effort to cut taxes, the folks in Congress who are actually deciding what tax laws will be changed say that putting limits on retirement plans is still a distinct responsibility.

Last week, the Capitol Hill rumor mill churned up the idea that in order to make the numbers behind a massive tax overhaul package work out, Republican leadership in Congress might consider a drastic cut to Americans’ 401(k) retirement plans — specifically, that the tax reforms could put a lower limit on the maximum amount you’re allowed to contribute to your 401(k).