Is the trifecta bill just a bad joke?

In the latest twist on last-minute tax legislation,Tax Notes ($) reports that the idea of making permanent such popular ideas as the 10% rate bracket, marriage penalty relief and the child tax credit. Each of these tax breaks had to be left temporary back in 2001 in order to avoid a Senatorial point of order and a potential filibuster.

Everyone expects these items to be made permanent, the question is, what else can we get with them? Maybe some estate tax reform?

Says the report:

Despite the trifecta bill's failure on a 56-42 procedural vote, GOP senators have not yet shelved it, and Frist has left the door open for bringing the bill back to the floor in the near future. Frist on September 7 met with a group of senators that included Finance Committee Chair Chuck Grassley, R-Iowa, taxwriter Jon Kyl, R- Ariz., and Budget Committee Chair Judd Gregg, R-N.H., to discuss the next step for the legislation.

When asked whether provisions to make the increased child tax credit and other tax cuts permanent could be added to the trifecta bill, as some have suggested, Frist responded, "Everything's on the table, but not just that. Lots of things are being considered."

Frist then quickly flashed a paper to reporters that he said listed 20 options for things that could be added to the trifecta bill to make it more appealing to Democrats and to win more support for the overall package.

Interestingly, Ways and Means Chair Thomas does not consider the extenders bill a must-pass before the election, in contrast to many other legislators. Thomas hates extenders, and believe that if the provisions aren't worth making permanent they aren't worth having at all.