American Bridge spokesperson Andrew Bates released the following statement after White House Press Secretary Sarah Huckabee Sanders appeared on Fox News and repeatedly failed to say whether Americans’ 401(k) tax benefits were negotiable or not.
“This is an alarming dodge from the White House on a simple question – is Donald Trump going to break his promise on 401(k) tax benefits that middle class families count on for retirement savings or not? The backwards tax plan that Trump and Republicans are developing behind closed doors would already raise taxes on millions of middle class familieswhile giving 80% of its breaks to the richest 1% of taxpayers. This is not a game – Donald Trump and Sarah Huckabee Sanders need to come clean if they are planning to ax a key retirement planning tax deduction.”
On October 23, President Trump pledged to the American people that there would be “no change to your 401(k).” However, yesterday, after House Ways & Means Chairman Kevin Brady indicated that the tax bill may indeed threaten 401(k) tax benefits, Trump contradicted his promise and said this was negotiable.
HEMMER: But what is the President’s position? Are the 401(k) negotiable or not in this tax deal?
SANDERS: Look, the President is committed to protecting peoples’ futures and doing that by protecting their retirement. This is a president who really wants to make this tax plan and the tax cuts very focused on the middle class. And by doing that, we need to make sure we are protecting their future, protecting their retirement accounts. And that’s something this president’s committed to doing.
HEMMER: But again, the question is whether the 401(k) plan changes. Does it or not, Sarah?
SANDERS: Look, I’m not going to negotiate those deals right here, right now. The President is going to do that. But what I can tell you, Bill, is the president is 100% committed to making sure we’re protecting people’s retirements, particularly those in the middle class and making sure that their futures are preserved moving forward.