This 401(k) change would likely result in high earners getting less of a tax break on their 401(k) savings and low and middle earners getting a bigger tax benefit.
IOW, those who don't actually make 401(k) contributions get zero tax break, and everyone making contributions gets smaller ones.
Personally I detest the 401k plan in concept. The tax advantage of contributing before taxes leaves rose taxes to be paid at withdrawal. The penalty incurred for early withdrawals and so on.
Graham-Rudman created this huge pool of money and the democRATS are. Salivating over how to get their hands on it.
One should save for retirement and not need some leveraged account with many strings attached. This also puts the fund managers in charge of the board of directors as the largest shareholder in many companies.
This is how wokeness spreads