No, it's too late now, it's Dream Act first or never.
There are a lot of procedures getting the freaking bill to Obama's desk.

First the House needs to pass.
Reid then needs wrestle some Republican votes in the Senate.
Keep in the mind the House and the Senate are two different versions of DA.

If (a big if) it passes both house, it will be sent to a committee to fix the differences (who knows how long this will take).

We're looking at at least 3 weeks of debating and Republicans bitching.

Imagine all of that except with the tax cuts going first, which is even more divisive. It will take up more time because the Dems will bitch, the Republicans will bitch. It will chew up more time than the Dream Act needs to pass.

Reid can't back down now, compromise only on the Dream Act, not with other legislations.