My informed guess is: no, he woud not. Though the President said last night that the vote "rightly reflects the outrage that so many feel over the lavish bonuses that AIG provided its employees at the expense of the taxpayers who have kept this failed company afloat," he said he looks forward to "receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated."  Hardly a ringing endorsement of the bill, which would levy a 90% additional tax on bonuses doled by companies who've been given more than $5 billion from the public till. The administration worries that the bill is unconstitutional, overly punitive in some ways and too narrowly targeted in others (why companies couldn't simply figure out a non-bonus way to make up for the compensation loss is not evident), and that it does not advance the larger goal of reform. The other side of the argument is that Congress is going to do what it wants to do, the White House will have no choice (given the politics) but to agree, and the sooner this legislation gets signed into law, the sooner Congress can get back to the business of the nation.

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