Review: The Meh Tax Bill That Has to Pass — Pragmatism or Policy Complacency?

Tax Rate vs. Tax Treaty--visualizing the framework around the current 'meh' tax bill

The Wall Street Journal editorial board’s recent piece, “The Meh Tax Bill That Has to Pass” (June 2025), offers a resigned nod to a tax package that lacks ambition but supposedly must be passed for the sake of continuity and compromise. It’s a revealing editorial—not because it breaks new analytical ground—but because of the tone it adopts: weary pragmatism in the face of Washington gridlock.

The bill in question includes limited expansions to the Child Tax Credit, extensions of deductions for business R&D and equipment investment, and other sunsets from the 2017 Tax Cuts and Jobs Act. The Journal argues that while the bill is mediocre, it’s preferable to inaction—a position that captures the mood of much of the political establishment in 2025.

On the positive side, the editorial makes a credible case for restoring business investment incentives that spur innovation and productivity. The editorial acknowledges it as a Democratic bargaining chip, but fails to engage with research showing its long-term economic and social value. A more detailed analysis here would have been helpful.

Most concerning, to me, is the editorial’s broader implication: that "meh" is the best we can expect from our tax policy in an era of divided government. This normalization of mediocrity—while understandable in the current political climate—risks reinforcing a long-term drift away from coherent tax strategy and meaningful reform.

✅ The editorial deserves credit for its candor and for defe

nding some economic fundamentals. But we should ask more of our legislators—and our policy discourse—than grudging tolerance.

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