Vote to Hike Taxes on Oil Fails in Senate, 52-48; Dems Vow to Revive It

by Andrew Restuccia (The Hill/E2Wire) The Senate on Tuesday rejected a bill that would have ended $21 billion worth of tax breaks for large oil companies, but Democrats vowed to revive the measure as part of high-stakes negotiations on the budget and debt ceiling.
Democrats’ pledge to continue pushing the bill signals that they view the effort as a winning political issue amid $4-a-gallon gas, soaring oil company profits and growing concern about the deficit.
A procedural motion necessary for the bill to move forward failed in a 52-48 vote. The motion required 60 votes for passage.
Two Republicans — Maine Sens. Olympia Snowe and Susan Collins — voted for the motion, while three Democrats — Sens. Mary Landrieu (La.), Ben Nelson (Neb.) and Mark Begich (Alaska) -- broke ranks and voted against the motion. READ MORE and MORE and MORE and MORE