March 27, 2003

In the midst of war in Iraq, President Bush suffered a defeat in the Senate. They cut his tax cut plan in half. It's a setback but not a political disaster because the House passed a bill for the whole sha-bang. The two houses will have to hammer out a compromise in the conference committee. Even if the tax cut ends up being half of what President Bush wants, as Larry Kudlow writes, "half a loaf is better than none."

"The Tax-Cut Setback"