Moderators, if this is too political, then I apologize in advance to Porky.
The Wall Street Journal's Anne Tergesen and Richard Rubin
on Friday reported that GOP tax writers on the House Ways and Means Committee were considering a proposal that would cap the amount people are allowed to put into a traditional, tax-deferred 401(k) account or IRA. Those who go over that cap would be forced to contribute to a Roth account.
According to The Journal
, a proposal under consideration would cap the annual amount that can be placed in a traditional 401(k) at $2,400 a year. Any contribution afterward would have to go toward a Roth account.
These guys are really making it difficult to plan for retirement.
Retirement saving, 401k changes in Trump tax plan? - Business Insider