Republicans block a $32B package of tax breaks for renewable energy financed by taxes on Big Oil

[flpoljunkie]

Oil Companies Spared Tax Hikes

By H. JOSEF HEBERT
The Associated Press
Thursday, June 21, 2007; 1:24 PM

WASHINGTON -- Senate Republicans on Thursday blocked a $32 billion package of tax breaks for renewable energy that would have been financed mostly by new taxes on major oil companies.

Democrats came three votes short of overcoming a threatened GOP filibuster that was keeping the measure from being attached to a broader energy bill. Republican senators argued that the nearly $29 billion in additional taxes on major oil companies would have led to reduced production and higher gasoline prices.

Because of Republican opposition, Democrats needed 60 votes to allow the package to come up for a vote, but fell short, 57-36. With a number of senators not voting, Democrats could resurrect the measure later, though there was no immediate indication of that.

The tax proposal had some bipartisan support, but also attracted sharp criticism from many Republican senators who lined up against it.

But Republicans complained that it was too harsh on the oil industry and could lead to oil companies reducing investments in new oil refineries and production. They also said that it could lead to higher prices for consumers.

Oil companies earned $111 billion in profits last year and at that rate stand to earn $1 trillion over the 10 years covered by the tax package, said Sen. Jeff Bingaman, D-N.M., rejecting suggestions that "this is an undue burden" on oil companies.

The tax changes would have channeled $11 billion over 10 years into development of renewable fuels such as ethanol, biodiesel and power from wind turbines. It provides an additional $18 billion in other tax breaks _ from tax credits to clean and renewable energy bonds _ to support improvements in energy efficiency, clean coal technology, development of gas-electric hybrid cars that could be plugged into the national power grid and other alternative energy programs.

http://www.washingtonpost.com/wp-dyn/content/article/2007/06/21/AR2007062101026.html

[NewJeffCT]

1. did any Dems not vote?

any breakdown of the votes?

Thanks

[flpoljunkie]

7. Landrieu, as expected, voted with big oil. Boxer did not vote, along with 5 Republicans.

Link to roll call vote: http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=1&vote=00223

Senator Johnson has not returned to the Senate yet from his recuperation from a stroke. Senator Reid voted NO so he could bring up the vote again at another time.

[NewJeffCT]

8. That means, though

that if we had Reid & Boxer voting yes, we're at 59 pending Johnson, and we'd need 60 to stop the filibuster, right? or, is it 61?

[flpoljunkie]

9. At 59, we would one short of cloture. Reid hopes to bring it back, but he is proceeding with bill.

Which means, it probably won't come back, I would suspect--unless they can get another Republican to join them in voting for cloture for this amendment.

[beachmom]

10. What about McCain? He did not vote, but is actually not that bad

on the environment. Lieberman voted yes, so I can imagine McCain would have, too, had he been there. Of course, based on media reports and voting record, McCain is NEVER there.

So 57 plus Boxer plus Reid plus McCain equals 60.

[justinrr1]

14. Reid voting no so he could bring it up again?

can you explain how that works?

if he votes yes he cant bring it up again as speaker?

thanks

[flpoljunkie]

18. Yes, that's right. Reid must vote no to bring the bill back up. He probably changed his vote from

yes, as well, so that he could bring the vote up again. Hopefully, it will be before the final vote is taken on passage of the energy bill.

[global1]

2. And When The Repugs Were In Control Of Congress - Why Couldn't The....

Dems block what they were doing?

[beachmom]

6. They had a larger majority actually. We have 51, they had 55.

Plus, there are no more moderate Republicans left, while there ARE centrist Dems. Tim Johnson can't vote, and for a lot of votes, Joe Lieberman doesn't count (he does have a fairly good environmental record, however). It's easier for them to filibuster than it was for us.

[OwnedByFerrets]

3. K & R

[beachmom]

4. That's too bad. I believe this was Kerry's measure:

http://blog.johnkerry.com/2007/06/leadership.html


WASHINGTON, D.C. – Today, the Senate Finance Committee accepted several key provisions introduced by Senator John Kerry (D-Mass.) to the energy tax package. Kerry’s plan rolls back tax breaks for big oil companies, saving taxpayers $9.5 billion during the next 10 years. His proposals for tax credits for energy efficient homes and buildings, plug in hybrids cars, and renewable fuel production were also agreed to by the Finance Committee.

The Committee also accepted a Kerry amendment to demand higher environmental standards on liquid coal facilities. The amendment mandates a 20% life cycle greenhouse gas reduction requirement to liquid coal facilities that receive the alternative fuels tax credit.

“Ending big tax breaks for the oil companies is a huge step forward in solving our energy crisis,” Senator Kerry said. “It’s just not right that big executives are riding the gravy train while Americans can’t afford heating and cooling bills and suffer historic pain at the pump. We aren’t going to solve our energy crisis until we start getting smart about efficiency and new fuels, and providing incentives for greening and production of renewable fuels will move the ball forward.”

“Coal to liquids hurts our efforts to adopt clean, new, renewable sources of energy that are good for our environment and our future,” Kerry added. “My amendment will help curb greenhouse gas emissions from liquid coal facilities. We can burn coal in a clean way, while keeping jobs in our country and adding new ones. This legislation is a good place to start.”



A good election in 2008, and this sort of thing will pass. This is why congressional elections are JUST as important as the presidential election.

[conservdem]

20. Where can we find the text of the bill that got knocked out?

I would like to see the specifics of what the renewable energy incentives were.

[bigendian]

5. Time to make some calls.

Now is the time people. Make your voice heard.

[flpoljunkie]

11. Here is the list of those voting no, plus Landrieu who is from big oil country. Good luck!

NAYs ---36

Alexander (R-TN)
Allard (R-CO)
Bennett (R-UT)
Bond (R-MO)
Bunning (R-KY)
Burr (R-NC)
Chambliss (R-GA)
Cochran (R-MS)
Corker (R-TN)
Cornyn (R-TX)
Craig (R-ID)
DeMint (R-SC)
Dole (R-NC)
Domenici (R-NM)
Ensign (R-NV)
Enzi (R-WY)
Graham (R-SC)
Gregg (R-NH)
Hagel (R-NE)
Hatch (R-UT)
Hutchison (R-TX)
Inhofe (R-OK)
Isakson (R-GA)
Kyl (R-AZ)
Landrieu (D-LA)
Lott (R-MS)
Martinez (R-FL)
McConnell (R-KY)
Murkowski (R-AK)
Reid (D-NV)
Shelby (R-AL)
Stevens (R-AK)
Sununu (R-NH)
Vitter (R-LA)
Voinovich (R-OH)
Warner (R-VA)

[beachmom]

12. Interesting group of Republicans who voted yes:

Coleman (R-MN)
Collins (R-ME)
Crapo (R-ID)
Grassley (R-IA)
Lugar (R-IN)
Roberts (R-KS)
Smith (R-OR)
Snowe (R-ME)
Specter (R-PA)
Thune (R-SD)



I think it may have to do with some of them coming from states that are home to new alternative energy. Despite my disappointment that it didn't pass, this part of it is heartening and was lost in that WP article.

[sandnsea]

13. And 2008 election

Smith is galloping to the left, don't know if it will be fast enough though. Coleman and Collins are up for re-election too. Grassley, Thune and Roberts are probably more about alternative energy monies for their states. *sigh* So few who just want to do the right thing.

[beachmom]

15. Yeah, but alternative energy monies is something we can count on.

"Doing the right thing" is something we can RARELY count on. So I hope the Big $$$ for alternative energy continues to influence senators to vote for it.

[bigendian]

16. I called my TN senators to tell them how disappointed I was in their vote.

And I wrote a LTTE.

If anyone wants to read it:

To the Editor,


When the Bush administration came to office one of the first items of business was the formulation of an energy policy. You know the one where Ken Lay and a bunch of energy executives met with Vice President Dick Cheney in secret so they could give their honest advice?

It is hard to judge the success of a secret plan, but if it was to have Big Oil wallow in record profits while ensuring that carmakers don’t produce cars that get better mileage, then it is working perfectly!

Even now the GOP is trying to stop an energy bill in Congress that will make Big Oil pay taxes, fund the introduction of alternative fuels and raise mileage standard on cars and light trucks.

The citizen who pays through the nose for his reliance on limited sources of energy can make a difference. Tell your representative and senators in no uncertain terms to pass the energy bill now before them. It’s time to introduce some new players into the energy game and retire the old ones.

[Supersedeas]

17. the Fat Cats must keep their tax breaks...no one, no one gets to eat from their crystal bowl

[BikeWriter]

19. Well, you know Big Oil has been starving!