Last week, the GOP kept a promise to the American people by delivering a replacement plan for Obamacare.

The plan — part of the party’s “A Better Way” campaign — was unveiled by House Speaker Paul Ryan, R-Wisc. “What we are laying out today is a first-time-in-six-years consensus by the Republicans in the House on what we replace Obamacare with,” he said.

The plan is a good one. House Republicans have laid out several core reform proposals their party can rally around. As I note in my new book The Way Out of Obamacare, a plan like this one would be a vast improvement over the unmitigated disaster that is Obamacare.

Two provisions in particular merit mention — the series of refundable tax credits designed to help offset the cost of health insurance and the cap on the tax exemption for employer-provided coverage.

These reforms would undue one of the government’s biggest policy mistakes. During World War II, Congress enacted wage and price controls to try to control inflation. But to appease unions, the feds exempted the value of employees’ health benefits from those controls and from income tax.