Today marks the fourth time this summer that the GOP in the Senate have blocked an energy and business tax bill from getting to the floor. The Wall Street Journal explains:
The bill would extend tax incentives for wind, solar and other forms of renewable energy, and would renew a host of expired tax cuts, such as the research tax credit and the state-sales-tax deduction. It would also protect most taxpayers from the alternative minimum tax in 2008.
The move failed on a 51-43 procedural vote, dashing Democrats’ hopes that their recent additions to the bill would draw more Republican support.
The White House said senior advisers will recommend a veto should the Senate tax bill reach the president’s desk in its current form. The White House had earlier threatened a veto of similar legislation passed by the House.
The GOP is attempting to attach amendments to the bill for offshore drilling. But for many Republicans, it’s more a matter of principle and politics: many oppose what they say are new tax increases to pay for parts of the package and nearly all say the Senate’s only business now is acting on an energy bill that promotes drilling and other measures to boost domestic oil supply. Sen. John Cornyn, R-Texas, added that his party sees a “need to dispose of the pending energy bill to help bring down the price of gas at the pump before turning to other matters.”
I’m speechless. For now.