President Donald Trump speaks to the media before departing from the White House last month. On Monday, he put down a marker on tax reform, and again broke with his fellow Republicans. (Mark Wilson/Getty Images file photo)
President Donald Trump further complicated Republicans’ quest to find agreement on a package of tax rate cuts and code changes, breaking with his party by tweeting Monday that he wants the 401(k) system left unchanged.
The popular retirement program allows employees to save a slice of their paychecks before taxes are withdrawn; taxes are eventually paid, but not for years until the money is withdrawn, typically after that employee has reached retirement age.