House Republicans considering reducing 401k contributions to $2400

[FIREd_2015]

I hope this doesn't make through Congress:

House Republicans are considering a plan to sharply reduce the amount of income American workers can save in tax-deferred retirement accounts as part of a broad effort to rewrite the tax code...The proposals under discussion would potentially cap the annual amount workers can set aside to as low as $2,400 for 401(k) accounts...Workers may currently put up to $18,000 a year in 401(k) accounts without paying taxes upfront on that money; that figure rises to $24,000 for workers over 50...

https://www.nytimes.com/2017/10/20/...column-region&region=top-news&WT.nav=top-news

 

[Gumby]

These ideas are speculation, proposed by individuals or groups with agendas, and discussion always gets political, and partisan. For that reason, tax proposals are fair topics for discussion once they are out of committee and under consideration by either of the two legislative bodies.