I've been saying that since day 1. It will be DOA in Congress and Bush can say "Well, I tried. Sorry."
I give Bush credit. The status quo isn't the "best" situation, or even a good situation.
So the guy proposes a (reasonable?) compromise; a political solution if you will.
But his proposal fails, because it is too MUCH for conservatives, and too LITTLE for liberals.
And he can do as you indicate--say he at least took the iniative, with a very difficult subject.