Senate rejects measure to end subsidies for big oil companies

A Democratic measure that would have repealed tax subsidies for the five biggest oil companies failed to clear the Senate on Tuesday, falling short of the 60-vote threshold needed to advance in a near-party-line vote.The Senate rejected S.940, or the “Close Big Oil Tax Loopholes Act,” in a 52-to-48 vote. Three Democrats – Sens. Ben Nelson (Neb.), Mary Landrieu (La.) and Mark Begich (Alaska) – joined nearly all Republican in voting against the measure, while two Republicans – Sens. Susan Collins (Maine) and Olympia Snowe (Maine) – voted “yes.” Democrats had contended that the bill, which would have repealed $21 billion in tax subsidies for the top five oil companies over the next decade, represented a step toward addressing the country’s soaring deficit and rising gas prices. The White House issued an official statement of administration policy earlier Tuesday saying that it strongly backed the bill.

But even as Democratic leaders had been strongly pushing the measure, it was expected that the bill would fall short. That’s the case, too, with a separate energy-related measure that will be on the Senate floor Wednesday – a Republican-sponsored bill aimed at increasing domestic energy production.The end result: the congressional debate over addressing rising gas prices will have little changed by week’s end.Senate Majority Leader Harry Reid (D-Nev.) maintained Tuesday that the subsidy issue will continue to play a role in the debate over raising the debt ceiling. Asked what he expected to come from the vote on the Democratic measure, Reid told reporters that he expected that a final deal on the debt ceiling would include a repeal of tax subsidies for the top five oil companies.
http://www.washingtonpost.com/blogs/2chambers/post/senate-rejects-measure-to-end-subsidies-for-big-oil-companies/2011/05/17/AF6HI35G_blog.html?%3Ftid=sm_twitter_washingtonpost

52-48 would have ended the subsidt - ReTHUGS and a few Dems filibustered

They'll attack Medicare, but won't touch the oil subsidies. If there is any doubt who owns them, this vote should help to clear that up.

Does it make a sound?

This seems to be a very quite story. It deserves more attention.

Even stupid people can understand that a subsidy dollar comes from the same place as a tax dollar!?! Why would this be popular with anyone, besides those beholden to big oil?

Let's hope Dems remember this come election time.

to remove this sort of abuse of the filibuster. guess not.

:(

my contempt for the oily dem's that voted with the repubs:mad:

To say that the Senate "rejects" the measure implies that a majority decided that the bill was a bad idea. That's not what happened. The majority apparently favored the bill.

More accurate would be: "Conservative Senate minority blocks vote on ending subsidies for big oil companies."

For purposes of making hay with this -- which I agree we should do -- the average citizen will probably be even more outraged by our pointing out that the Republicans (and it was largely the Republicans) wouldn't even let this come to a vote.