There is a rumor going around that Harry Reid will step down as majority leader either at the end of this year to focus on his re-election campaign, or in three years after he retires from the Senate. While I should emphasize that I have nothing to back up this rumor, it does raise the interesting possibility of a new campaign for majority leader in either one year or three years that is worth discussing.
The obvious candidates for majority leader would be Durbin, Schumer, Dodd, and the loser of the 2008 presidential nominating contest. Durbin is the second highest ranking Senate Dem, obviously giving him a path to become majority leader. Schumer has been head of the DSCC for a while, and after 2008 at least 15 members of the Senate will have been newly elected under his watch. Dodd narrowly lost a campaign for majority leader following the 1994 elections, with Daschle only edging him out by one vote. There has also been talk online of finding a way to make Dodd the majority leader. Finally, the loser of the nomination campaign will be the junior Senator from either Durbin's or Schumer's state, giving him or her a possibility of putting together a coalition of presidential endorsers plus Durbin and Schumer supporters. The latter seems to be an especially strong possibility if Obama becomes President, potentially giving Clinton the inside track to become majority leader. After all, would President Obama and Majority Leader Durbin be an overdose of Chicago politics (or President Clinton and Majority Leader Schumer be an overdose of New York City politics) dominating Washington D.C.?
This could just be idle speculation, but if Harry Reid steps down, who would you want to see replace him as Senate majority leader? Take the poll in the extended entry.