Senate Republicans block renewable energy tax breaks - WMC Action News 5 - Memphis, Tennessee

Senate Republicans block renewable energy tax breaks

WASHINGTON (AP) - Senate Republicans blocked a $32 billion package of tax breaks for renewable energy Thursday 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 lead to reduced production and higher gasoline prices.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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