May 2, 2017
Is Trump about to change your 401(k)'s biggest tax break? The Trump administration is embarking on new efforts to study and possibly dismantle some of President Obama’s tax and financial regulations.
Lawmakers are looking at dramatically changing these retirement plans. President Donald Trump was elected, in part, because of his championing of income tax reform, with promises of a simplified structure of tax rates for individuals and lower tax rates on corporations. Yet at no time during the campaign did the president signal that the way his administration would pay for those moves would involve taking away one of the most popular and widely used tax breaks in the income tax system.