Tax Bill Both Feeds Cynicism and Cures It

What to make of the Tax Cuts and Jobs Act, the legislation passed by the Senate at 1:36 a.m. the Saturday before last, by a 51 to 49 vote, with only Republicans in favor?

Any final assessment has to await a conference with the House of Representatives that will attempt to bridge differences between the Senate bill and the one already passed by the House.

For now, though, the legislation is a mixture of really encouraging developments and really disappointing ones.

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