A BARGAINING CHIP
Treasury Secretary Donald T. Regan's tax proposal is being regarded here as less a plan for enactment than a bargaining chip in what is certain to be a prolonged battle with Congress and thousands of special interests over changes in the nation's tax system. Mr. Regan allowed as much today at the news conference announcing the plan. ''This thing was written on a word processor,'' he said. ''It can be changed.'' He said it was the Treasury's proposal, not the President's, and indeed President Reagan seemed to be keeping his distance from the study he ordered last January but saw for the first time only on Monday. In a statement, the President noted the length and complexity of the three- volume report and praised the Secretary for long and hard work. ''Over the next few weeks,'' he said, ''I plan to review the Treasury's recommendations carefully - along with public and Congressional reactions to them.''