Original here.

We’re all hyperventilating over how the stimulus train has run off the rails, but it now seems that a vote on the Senate version may take place tomorrow, as the president feels he has the votes for passage. The bill has gotten better in some ways — the Buy America provision has now been altered to prevent violation of trade law. And gotten worse in others — Congress is now looking to hand over $15,000 to homebuyers. Some key issues are still hanging out there, like the Inhofe-Boxer transportation funding amendment, and Tom Coburn will get to tell everyone how he killed money for Hollywood. But there seems to be a reasonable chance that after all the huffing and puffing, the Senate may pass a substantially larger bill than made it through the House.

Political questions will remain. Has the wrangling and grandstanding by the GOP damaged Democrats and soured the public on stimulus? But at least passage of a bill with a chance to have a meaningful effect on the economy, and therefore a meaningful effect on Democratic political fortunes, now seems possible.

A bit of self-promotion — here are some additional thoughts on transportation funding in the stimulus in a new piece at the Prospect.