GOP Eliminating 401(k) Deduction as Americans Are Drastically Under-Saved for Retirement Posted by Editor on October 28, 2017 in Taxes And just wait until you see what happens to you when the GOP eliminates your 401(k) deduction. Good luck with your golden years. More … Share this:Click to print (Opens in new window)Click to email this to a friend (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Reddit (Opens in new window) Taxes