India, Jan. 17 -- White House economic adviser Kevin Hassett stated on Friday, January 16, that the Trump administration is pushing a proposal to permit American housing investors to use money from their 401(k) retirement plans to make down payments on homes.

Hassett told Fox Business Network that President Donald Trump "will put the final plan out in Davos next week."

According to Hassett, the proposal is still being finalised.

The administration is seeking "a simple" process that would allow 401(k) withdrawals for housing without significantly eroding long-term retirement savings.

He said, "Suppose that you put 10% down on a home, and then you take 10% of the equity of the home and put it in as an asset in your 401(k). Then your 401...