In an early morning tweet Monday, President Donald Trump appeared to have shot down a reported Republican plan to reduce the amount of retirement savings that isn't taxed, winning praise from a coalition of associations in response.

Several news organizations reported over the weekend that House Republicans were considering reducing the amount of pre-tax savings that could be put into a 401(k) account from $18,000 annually to $2,400. The change reportedly was being sought to offset revenue losses that would result from the GOP's proposed tax cuts.

Republican leaders never confirmed whether they planed to reduce the 401(k) tax exemption. Trump rejected the possibility in a tweet, saying: "This has always been a great and popular middle class tax break that works, and it stays!"

The president's comments were praised by the Save Our Savings coalition, a group formed to fight proposed changes in the tax status for retirement savings. Financial Services Roundtable, American Retirement Association and AARP are among the coalition's members.

"President Trump made clear just how much retirement savings matter to families across the country," the coalition said in a statement to The Hill newspaper.

"Meaningful retirement incentives help millions of hardworking, middle-class families plan for their future and any effort to reform the tax code must protect these families and the retirement planning they've depended upon for generations," the group added. http://bit.ly/2z1krGZ

MORE CEO DATELINE

• Critics allege association-backed bill would allow more pyramid schemes
• EPA abandons ethanol policy changes after association outcry
• Retail association supports continuing Obamacare subsidies
• Associations offer grants to support healthy school snacks
• Association video prompts Democrats to call for legal review