We loved the go-big health care bullet points Speaker Johnson circulated last week, so we can’t muster more than one cheer for the modest legislation he’s now slated for floor consideration this week.

All of these provisions are changes in a positive, pro-market direction that will tend to lower costs and increase choices. But they are modest. Transparency is limited to PBMs only and none of our other checklist items are here. The chief advantage of the plan: no extension of supersized Obamacare subsidies. Let’s hope that feature can survive attempts to amend the bill on the House floor.