The rumor is that the senate leaders will put the doomed bailout bill up for the senate vote but with a corporate tax CUT tacked on to it.
This is getting beyond ridiculous. Reid and Pelosi are world champions at taking it right in the ass from the GOP.
Few details are available but here is a link to the AP story.
Here's the excerpt that has me alarmed about what's going on:
WASHINGTON - In a surprise move to resurrect President Bush's $700 billion Wall Street rescue plan, Senate leaders slated a vote on the measure for Wednesday — but added a tax cut plan already rejected by the House.
Majority Leader Harry Reid, D-Nev., and GOP Leader Mitch McConnell of Kentucky unveiled the plan Tuesday. The Senate plan would also raise federal deposit insurance limits to $250,000 from $100,000, as called for by the two presidential nominees only hours earlier.
The move to add a tax legislation — including a set of popular business tax breaks — risked a backlash from House Democrats insisting they be paid for with tax increases elsewhere.
But by also adding legislation to prevent more than 20 million middle-class taxpayers from feeling the bite of the alternative minimum tax, the step could build momentum for the Wall St. bailout from House Republicans.
WTF Reid? WTF?