House Ways and Means Committee Chairman Kevin Brady (R) on Wednesday suggested that his upcoming tax bill could force changes to 401(k) plans and other retirement accounts, a move that would buck a promise from President Donald Trump that those accounts would be left alone.
Senate Finance Committee Chairman Orrin Hatch, R-Utah, said he would oppose Trump’s vow to protect 401(k) plans.
Hatch is the top tax writer in the Senate, and he and Brady have outsized influence over how the tax legislation comes together. They’re ready to use it to screw you.
Source: San Diego Union-Tribune