Congress should not target 401K accounts to pay for tax cuts for the rich. Deposit limits, including catch up contributions, need to be raised. Families like mine depend on those accounts for retirement savings.
The plans of millions of Americans near retirement and that depend on 401K accounts must not be disrupted to pay for tax cuts for people and companies who have no such worries.
Reduced retirement accounts will be invested into high risk options that result in devastating losses to the families and the economy.
Most Americans do not have the opportunity or means to benefit from a 401K until very late in their careers. The option of tax free catch up contributions is essential.