According to Democrats, probably not. Rep. Steny Hoyer told reporters today that "apparently the House bill had its effect." He's refering to the news that most AIG executives had returned their bonuses in the wake of ... well, Hoyer believes it was Congressional action, but I'm fairly certain that the pressure from New York's Attorney General (not to mention the public outrage) contributed a bit as well. The White House would prefer not to have to deal with a retroactive taxation bill anytime soon; they'd much rather wrap up protections against these types of abuses in the context of broader legislation to regulate the financial markets. Sen. Majority Leader Harry Reid said the Senate was mulling over its options, although Finance Committee chairman Max Baucus said that any new legislation was "on pause."
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