[Congressional Record (Bound Edition), Volume 163 (2017), Part 11]
[House]
[Pages 16307-16308]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1915
                  OPPOSE CAPS ON 401(K) CONTRIBUTIONS

  (Mr. KRISHNAMOORTHI asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. KRISHNAMOORTHI. Mr. Speaker, recent media reports have suggested 
that the House will consider a plan to cap employees' 401(k) 
contributions as part of tax reform. I urge all my colleagues in the 
strongest possible terms to reject this proposal. This cap on 401(k) 
contributions would present a crippling and unnecessary burden on 
working families across the country by making it harder for everyday 
Americans to save for retirement.

[[Page 16308]]

  There is already growing bipartisan opposition to this proposal as 
President Trump tweeted against it this morning, and in September, the 
majority leader said that this plan would punish people when they are 
actually saving for their own retirement.
  I agree with the majority leader. Working families already face 
enormous challenges in saving for retirement. This proposal would 
create another, and I urge all of my colleagues to strongly oppose it.

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