More proof of Bush’s dwindling “political capital” was evident yesterday as
the Senate Finance Committee struck down the Bush tax cuts. The measure could be
voted on by Senate today.

The tax cuts removed were part of Bush’s first term tax cut program which he
has campaigned Congress to make permanent. During his re-election campaign, Bush
highlighted making these tax-cuts permanent, which was considered a second term
high priority agenda item along with the now debunked social security reform
program.

The

Washington Post has more on this story.