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Suggestion to Trump: allow tax-free 401(k)/IRA withdrawals by married couples to spend on their first house
2026 Jan 8, 1:28pm 896 views 70 comments
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floki
2026 Jan 16, 3:28pm
I'd speculate that many younger home buyers get some help with the downpayments from families, especially on a first home. Maybe just enough help to get into one. For those that do not, this proposal just might be the difference between owning a home or not. It's supposed to be a tax and penalty free withdrawl as opposed to being a loan as is available today so no post-tax repayments taken out of their wages either. Overall, I think that's a good thing for those intent on buying one after having considered all other pros and cons.
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Why trap their money to be fully taxed on withdrawal at age 60 or so when they really need it when young to buy their first house?
Buying a house is also a kind of retirement savings.
Make it limited to direct payment on principal of a house, and make it so that selling that house would require that they put the principal in another house, or back in the 401(k)/IRA.