House seen likely to pass limit on income tax cut

The Democratic-controlled House Ways and Means Committee, reluctantly bowing to the leadership's wishes, appeared ready to approve Thursday a $700 limit on the 10 percent cut in income tax rates scheduled to begin in two weeks.

House majority leader Jim Wright of Texas predicted the bill would pass the House by a ''comfortable margin'' next week. Representative Wright, along with Speaker Thomas O'Neill, has championed the limitation as a means of restoring fairness to President Reagan's economic program.