GOP tax writers are "scrambling to find new revenue sources" to pay for tax cuts, as chicagotribune.com reports, which explains why limiting tax-deferred 401(k) retirement plan contributions was such a "juicy target" before the idea was "shot down" by the president on Monday. According to the Tribune, the tax deferral for 401(k) accounts "cost the government $82.7 billion in lost revenue in the recent budget year ending Sept. 30, 2016 – a potentially juicy target for Republican tax-cutters." Reports circulating over the weekend that House Republican tax-writers were "considering a plan to sharply reduce the amount of income American workers can save in tax-deferred retirement accounts" led President Trump to tweet that "[t]here will be NO change to your 401(k)."  The president added, "This has always been a great and popular middle class tax break that works, and it stays!" Tax-deferred 401(k)...(Read Full Post)