Senate Republicans take yes for an answer

By a stunning 88 - 5 vote, the Senate passed a one-year AMT patch with no offsets. The measure is apparently being sent to the House for final approval, rather than calling a Conference to iron out the differences.

Ways and Means Chairman Rangel has offered to modify the offsets in the House bill, to eliminate most but not all of the changes that will affect hedge fund managers (the "prevailing party" in the Senate, apparently). If Rangel wanted to do some horse trading, he should have started the process earlier than November.

All eyes now turn to the House, and to the Democratic leadership.