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Article snippet: Potential changes to 401(k) accounts appeared to get new life on Wednesday, with a key GOP chairman declining to rule out their inclusion in tax legislation and President Trump leaving room for negotiation. Trump on Monday seemed to take a hard line against changing the rules for retirement plans, tweeting that “there will be NO change to your 401(k).” But on Wednesday morning, House Ways and Means Committee Chairman MORE (R-Texas) — the lead drafter of the tax-reform bill — didn’t give a definitive answer when asked whether changes to 401(k)s were still being considered. He said lawmakers are exploring ways to further encourage retirement savings. "We think in tax reform, you can create incentives for Americans to save more and save sooner, which can help them," he said at a breakfast hosted by the Christian Science Monitor. Meanwhile, Trump appeared to soften his position, saying that 401(k) changes are still on the table “and maybe we'll use it as negotiating.” The president stressed that he values 401(k)s. “401(k)s, to me, are very important,” he said. “And they're important because that's one of the great benefits to the middle class.” Financial industry stakeholders last week said they were hearing that Republicans were considering significantly limiting the amount that people could put into 401(k) plans on a pretax basis. The current annual cap for most people is $18,000, but lobbyists had heard that the limit could be reduced to $2,400. Amounts over the ... Link to the full article to read more