President Donald Trump is expected to unveil a plan allowing Americans to use their retirement savings for home down payments. The announcement, hinted at by National Economic Council Director Kevin Hassett, is slated for the World Economic Forum in Davos next week.

Hassett offered a glimpse of the proposal on Fox Business, suggesting a system where equity from a home could be reinvested into a 401(k) account. "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(k) will grow over time," Hassett said.

The White House has not yet released details regarding the plan's specifics, including potential tax implications. Currently, withdrawals from retirement accounts typically incur fees and taxes. The proposal comes amid growing public concern regarding the administration's handling of the economy, particularly in the area of housing affordability.

This potential policy shift arrives as housing affordability remains a significant concern for many Americans. The Trump administration has introduced a series of housing affordability proposals recently, suggesting an increased focus on addressing this issue. The unveiling of the "final plan" in Davos will likely provide further clarity on the details and potential impact of the initiative.