New Bill Would Forgive 401(k) Withdrawal Fines for Home Buyers

A bill was introduced to waive penalties on 401(k) withdrawals used for down payments and closing costs on primary residences, allowing penalty-free withdrawals for up to five years. The proposal aims to ease financial barriers to homeownership but faces opposition, including from the President, who doubts its necessity. The bill is currently under review by the House Ways and Means Committee.