LaHood: No appetite for reducing retirement incentives

Posted on October 24, 2017

 

Darin LaHood
U.S. Rep. Darin LaHood called a new tax plan that would’ve reduced incentives in 401-k retirement savings, “the dumbest thing he’s ever heard.” (Photo courtesy Facebook/Darin LaHood)

By Eric Stock

WASHINGTON – U.S. Rep. Darin LaHood called it the ‘dumbest thing he’s ever heard,’ a plan that would have sharply reduced tax incentives in 401(k) retirement savings.

PODCAST: Listen to Scott’s interview with LaHood on WJBC.

“This is a program that has worked,” LaHood said. “It has incentivized people to save, to contribute to their 401(k). It’s a program that has been successful.

“There was no appetite, at least from my perspective, to have this done.”

President Donald Trump recently tweeted there would be no change to the incentives.

A Congressional committee had raised the idea as a way to offset $1 trillion in tax cuts.

Eric Stock can be reached at [email protected].

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