Originally Posted by
Name User
I don't remember the exact specifics but IIRC they just wanted to do away with the tax deferred part of the 401k and switch it purely to the Roth.
The reality is the deferred tax structure doesn't really save much in taxes for the middle class (they still must be paid) and the vast majority of middle America would be better served contributing to the Roth accounts.
50-70 billion with a “B” annually depending on who you ask. That is what the 401K tax deferred bennies cost the Treasury every year. That buys a lot of tax cut. And the Rs knew it. As I recall, Kevin Brady (R- TX) was pretty adamant about it.
https://www.google.com/amp/s/www.cnbc.com/amp/2017/10/25/rep-kevin-brady-says-401k-changes-could-happen-contradicting-trump.html