Trump ultimately did an about-face on the proposal when asked about it at Davos, telling reporters he wasn’t “a huge fan” of letting 401(k) plan participants use some of their savings to put down a deposit for a home. Currently, 401(k) participants must pay an additional 10% tax on funds withdrawn from their account before the age of 59-and-a-half—also known as an early distribution—for any number of reasons, including buying a home. Some employers allow workers to take out a loan from their 401(k) account balance in order to purchase a home. While Trump pivoted from the proposal Hassett floated, some lawmakers still seem interested in such a plan. Historically high prices and a low supply of available homes have made homeownership out of reach for many Americans in recent years.