House to gratefully let them.
They may call it “delay,” but they mean “eliminate” – and the Washington Post is happy to assist with putting this story on the seventh page.
Jarred by a cool reception from the White House and fears of unintended consequences across the financial world, Senate leaders are likely to delay until late next month legislation to punitively tax bonuses at banks and investment firms that receive federal aid.
Senate Majority Leader Harry M. Reid (D-Nev.) announced last week that the Senate would move ahead with the legislation as soon as possible, and he attempted to bring the bill to the floor Thursday night. But he revised that timetable yesterday, saying that the chamber will spend this week debating a national-service bill before turning to a long-scheduled showdown over the budget for fiscal 2010. With just two weeks to go until Congress departs for a spring recess, action on the tax measure would be unlikely before late April.
That will effectively kill the bill, because everyone in Washington is betting that a month should be enough time for the populace to have something else besides the Democrat-inspired and Democrat-encouraged AIG bonus PR fiasco to focus upon; which is not a bad bet, actually. Already people are starting to notice that the Democrats’ House bill has a good deal of faux-populist outrage associated with it; and as Glenn Reynolds over in Forbes is pointing out, the Democrats are going to be soon having to hit up the very people that they’re currently demonizing for campaign contributions. Time to let this story die, and that’s why there’s a Senate in the first place. Continue reading Senate to discreetly shut down House AIG bill of attainder.