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Energy Bill Stopped on Senate Floor

An energy bill that would create a carbon cap-and-trade program, increase vehicle fuel efficiency standards and mandate a 15% Renewable Portfolio Standard took two important steps towards becoming U.S. law before hitting a roadblock on the Senate floor this morning. Wednesday evening the Senate Environment and Public Works Committee, led by Senator Barbara Boxer (D- CA) voted 11-8 in favor of sending America’s Climate Security Act to the Senate floor for a chamber-wide vote. Following this action, on Thursday the House passed a version of the same bill along party lines by a vote of 235-181. Friday morning a procedural attempt by Senate Majority Leader Harry Reid fell seven votes short of the 60 needed to limit debate on the bill before moving to a quick vote. As a result, Senate Republicans could filibuster the legislation, holding it in debate indefinitely until concessions are made to their concerns. Of greatest concern to Republicans, including President Bush, who said he would veto the bill in its current form, is a tax package that provides incentives for renewable energy, while cutting more than $17 billion in tax deductions and breaks for oil and gas companies over the next ten years, Other highlights […]

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