Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
House Ways and Means Committee Chairman Kevin Brady, R-Texas. Photo: J. Scott Applewhite / AP
House Republicans won't touch 401k retirement plans in their new tax proposal, according to an AP report.
Why it matters: Per Axios' Jonathan Swan, Trump opposed limiting 401k contributions "because he thinks it's a political disaster." Ways and Means Committee Chairman Kevin Brady had planned to reduce the amount of money people could contribute to their 401k pre-tax to generate more tax revenue. With the plan to be unveiled tomorrow, the decision isn't yet solidified.