UPDATED - Fourth time's the charm! - Liveblogging the launch of the Senate term limits bill

Earlier today, the offices of both Michael Ignatieff and Liberal Senate leader James Cowan were quick to put the collective kibosh on a news report that the party had agreed to throw its support behind a bill that would see Senate appointments sunset after twelve year -- which would be four years more than the Conservatives proposed the last time it attempted to curtail senatorial terms, but three years less than the fifteen years that Liberal senators recommended at committee in response. 

We'll find out whether the two sides are, indeed, "close to a deal" later this afternoon, Democratic Reform Minister Steven Fletcher will table a brand new bill, which may or may not bear a distinct resemblance to its predecessors, S-4 (2006), C-19 (2007) and S-7 (2009). Unlike last time around, he plans to do in the House, not the Senate, which is curious considering that is, of course, the Other Place, in which his party finally holds a slim plurality. 

I'll be liveblogging his press conference, and the reaction from opposition parties, so check back at 3:45 pm for full coverage!

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