It’s questionably Constitutional and nothing more than a petty CYA measure. Whether it passes eventually or not, it’s a good idea to take a deep breath. As I wrote on Global Briefing, the outrage has gotten sick.

Sen. Jon Kyl, the Republicans’ vote counter, blocked Democratic efforts Thursday evening to bring up the Senate version of the tax bill to recoup most of the $165 million paid out by AIG last weekend and other bonuses in 2009. The House had swiftly approved its version of the bill earlier in the day.

By rushing, Kyl said, Democrats were letting populist outrage trump informed decision making in the Senate, which is supposed to be insulated from the pressures of public passion.

“I don’t believe that Congress should rush to pass yet another piece of hastily crafted legislation in this very toxic atmosphere, at least without understanding the facts and the potential unintended consequences,” Kyl said on the Senate floor. “Frankly, I think that’s how we got into the current mess.”…

How to impose those taxes without running afoul of the Constitution or the law is a dispute that has Republicans urging a go-slow approach. Doing so, of course, would drag out the Democratic discomfort over administration missteps and provide plenty of time for the GOP and others to question Geithner’s performance.

The whole concept, outside of this one case with AIG, is pointless. So rather than giving their employees bonuses on a certain date, companies will just increase their regular compensation. So there appears to be a very easy bypass. Of course, Congress isn’t pursuing this legislation because they think it’ll work in the long term. Congressional leaders are just trying to cover their asses and make it look like they’re doing something about the problem.