Senate Majority Leader Harry Reid and Sen. Russ Feingold announced today they would introduce legislation to end funding for the Iraq war — with limited exceptions — by March 31, 2008.

The legislation is similar to language contained in a $123.2 billion emergency war supplemental (HR 1591) passed by the Senate March 29, with an important distinction: The supplemental would start the withdrawal of troops 120 days after enactment, but with a non-binding goal of finishing by March 31, 2008.

In contrast, the end date for withdrawal in the resolution Reid, D-Nev., and Feingold, D-Wis., plan to introduce would be binding.

Feingold had been contemplating offering an amendment to cut off funding during the debate on the supplemental.

Reid and Feingold’s resolution would allow narrow exceptions to the cutoff in funds for limited operations against members of al Qaeda and other international terrorist organizations, for security for U.S. infrastructure and personnel and to train and equip Iraqi security services.

President Bush has vowed to veto the bill if it contains troop withdrawal language, a virtual certainty. The House version of the measure, passed March 23, contains a binding timetable for withdrawal by the end of August 2008.