From NBC:
The House Judiciary Committee is planning a hearing next week into the commuting of Libby's sentence. They don't yet know who they are going to call, but as of this morning they are thinking that they may not have enough time to call Libby himself and properly prepare. That could change.
Henry Waxman's staff over at Government Oversight and Reform is still pursuing Peter [sic] Fitzgerald. Recall that Fitzgerald has already declined an invitation to testify, citing the ongoing appeals process. Though that process continues, Democrats on the committee think that the time may be now right for Fitzgerald to appear.
Is there any chance that President Bush did something illegal here, or is this just an opportunity to highlight how slimy the president is for letting his friends out of jail despite being guilty, guilty, guilty?
Either way, it's probably a win-win for the Democrats. It'll keep this story on the front page next week after the holiday when people start paying attention to the news again.
And if you're wondering why Bush didn't go with a full pardon, I think this explains it:
It was noted by one sage observer that a full pardon would have meant that Libby would have been compelled to testify and could no longer take the Fifth. But as it stands, his appeal is still pending. One advantage of a commutation.