FISCAL: Tax Bill's Progress

At first sight, the $5.3 billion tax reduction bill looked like a dainty dish, full of political sweetmeats, but many legislators found it not entirely to their taste. The House Ways & Means Committee unanimously reported in favor of the measure. But Republicans on the committee in a political addendum declared that: 1) true tax relief will not come until the Administration cuts out "wasteful and unnecessary spending"; 2) the U.S. "cannot continue to play Santa Claus to the other nations of the earth and remain solvent."

On the floor of the House, the gag rule was invoked to...