"a step in the right direction"
Update: The Wall Street Journal also likes the proposal. Here's a theorem: Any time the Wall Street Journal editorialists and Jason Furman agree, they are right.
Update 2: Steven Pearlstein and Ruth Marcus have nice pieces on the topic in today's Post.
Update 3: Here is a description of the distributional impact of the policy. The U.S. Treasury estimates that it would be a tax cut for the bottom four quintiles and a tax increase for the top quintile.