Senate Blocks Energy Bill
Senate Republicans Friday blocked an energy bill that would have boosted taxes on oil and gas companies and raised fuel economy standards for most vehicles, Bloomberg reported.
The Senate voted 53-42 to back a bid by Senate Majority Leader Harry Reid (D-Nev.) to begin considering the measure — seven short of the 60 needed to overcome GOP objections, Bloomberg reported.
A measure passed by the House 235-181 on Thursday included a provision on how to measure fuel economy in medium- and heavy-duty trucks.
The bill would called for higher fuel economy standards for cars and light trucks, the first increase in 32 years, and boosted use of alternate fuels such as ethanol, Bloomberg reported.
President Bush threatened to veto the bill because of the tax plan and a provision requiring investor-owned utilities to buy 15% of their power from renewable sources, Bloomberg said.
Democratic backers of the legislation vowed to work to get the measure reworked and passed, Bloomberg reported.
