Reid Porks Up the Tax Bill to Try and Placate Dems

Harry Reid is trying to figure out just how much bribery it will take to get his party to vote for lower taxes on everybody:

The sweeping tax cut bill introduced Thursday night by Senate Majority Leader Harry Reid is chock-full of sweeteners which could serve as a legislative pacifier for Democrats outraged over the concessions President Obama has handed to Republicans.

The stimulus-sized package includes about $55 billion worth of short-term tax extensions for businesses and individuals. They cover a host of alternative energy credits, a potential salve for environmentally conscious lawmakers, as well as targeted benefits for everything from the film and television industry to mining companies to rum producers.

Reid has set up a test vote on the package for Monday, which could clear the way for a final vote as early as Wednesday. The bill stands a good chance of passage in the Senate, but the House is less predictable as rebellious Democrats accuse the president of caving and clamor for changes.

Obama, in an interview with NPR News, predicted Congress would ultimately approve the tax-cut compromise, though he would not rule out more changes in the bill.

"Here's what I'm confident about -- that nobody, Democrat or Republican, wants to see people's paychecks smaller on Jan. 1 because Congress didn't act," Obama said.

Harry, I hate to break it to you but it's already too late to stop a drop in take home pay for most Americans. Congress has dithered so long that payroll companies will have to use the new tax tables with the higher rates going into the early pay periods in 2011. Everybody will see the results of higher tax rates even if Congress passes the bill next week. It will take a period of time to fix the withholding tables to reflect the change in law.