BREAKING! From the Chicago Daily News:
In a stunning bit of political maneuvering aimed at addressing Republican concerns about the stimulus package in the hope of attracting widespread GOP support, Senate Majority Leader Harry Reid proposed a massive reduction to the size of the stimulus package currently working its way through Congress.
"My Republican colleagues have voiced their very legitimate criticisms of this deeply flawed stimulus bill," Reid announced on the Senate floor today. "I invite those criticisms. We are all of us strengthened by those criticisms. And I want my friends across the aisle to know, with all the sincerity I can muster, that their criticisms have found, in Harry Reid, a welcoming heart, a friendly ear, and an unbounded urge to act."
As near as I can tell (I've only read a brief synopsis of the actual bill), Reid's proposal (S.366) would reduce the size of "The American Recovery and Reinvestment Act of 2009" (H.R.1) by more than 80%. His bill seems to be a direct response to GOP concerns that the size of the stimulus package is far bigger than it needs to be. In his floor speech, Reid referred directly to the arguments levied by Senator John Thune (R-SD) on February 3, 2009:
Senate Majority Leader Harry Reid:
"I must admit that I was particularly struck by several cogent points made by my good friend, the senator from South Dakota, with whom I am proud to say I have had a productive working relationship over these many years. He is a man of integrity. And when men of integrity muster the courage to do what's right for the good of this country that we all love, we must bend over backwards to consider and reconsider all points of view, Republican or Democrat.
"And so, Madam Chairman, I rise before you today to propose this massive reduction to the size of the stimulus bill before us.
Reid then unveiled the following visual aids:
"If adopted, my proposal will ensure that 'The American Recovery and Reinvestment Act of 2009,' when stacked end to end, will barely reach from the northern border of Maine to the city limits of Kankakee, Illinois."
"A related benefit of my proposal," Reid continued, "will be to greatly reduce the incidence of cocaine overdose amongst our youth, thus freeing up precious resources in our increasingly crippled health care system."
"I am hopeful," Reid concluded, "nay, I am confident, that this proposal will address the very real and the very valid concerns voiced by the honorable members of the Grand Old Party with whom I have been so fortunate to enable."
Caught off-guard by Reid's proposal, Senator Russ Feingold (D-WI) scrambled to his feet to request a point of order, but in an unprecedented move, Reid left his podium, calmly strode to the front of the Senate chamber, and gaveled the proceedings closed.
A screen-capture of Harry Reid's gavel:
UPDATE: Apparently, just after gaveling Feingold down, Reid reopened the proceedings to allow for this Republican counter-proposal: