President Ronald Reagan signed his first tax cut bill in August of his first year in office. President George W. Bush signed his first tax cut in June of his first year. Like those two leaders, Donald Trump campaigned on tax reform, and he is pushing Congress to deliver, but his signing of a bill is still months away.

Some progress was made this week. In a “joint statement,” Republican leaders of the House, Senate, and White House dropped their support of a “border adjustment” tax. Finally! It has been clear for months to everyone except GOP leaders that this idea to raise $1 trillion by a hidden tax on consumers would not pass Congress and was rejected by the Republican base.