Wall Street Furious Over Taxation Reform Proposal To Slash 401(K) Contributions

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Title : Wall Street Furious Over Taxation Reform Proposal To Slash 401(K) Contributions
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Wall Street Furious Over Taxation Reform Proposal To Slash 401(K) Contributions



Did I cite taxation reform is a rhythm out game con?

The New York Post reports:
Wall Street pushed dorsum difficult on Fri against a study that
congressional Republicans are weighing a conception to severely bound the amount of coin Americans tin contribute to their 401(k)s.

The Capitol Hill lawmakers, searching for ways to pay for President Trump’s wide proposed taxation cuts, are eyeing a $2,400 cap on pre-tax contributions to 401(k) plans, used past times millions of USA workers to relieve for retirement.

Currently, the pre-tax bound for such contributions is $18,000 a year.

It’s unclear if the caps volition survive. The House Ways in addition to Means Committee, which is writing the taxation plan, isn’t expected to issue the details of the mouth until the middle of adjacent month--but many somewhere inwards the taxation arrangement volition expire stuck amongst empty shells, ane agency or another.

 -RW


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