By Andrew Restuccia - 05/17/11 12:39 PM EDT
The bill, introduced by Senate Minority Leader Mitch McConnellMitch McConnellDems gain upper hand on budget Overnight Finance: Senate rejects funding bill as shutdown looms | Labor Dept. to probe Wells Fargo | Fed to ease stress test rules for small banks Overnight Energy: Judges scrutinize Obama climate rule MORE (R-Ky.), would require the Interior Department to hold lease sales in the Gulf of Mexico and off the Virginia coast; would set a timeline for review of pending offshore permit applications; and would extend leases in the Gulf for one year, among other things.
Senate Majority Leader Harry ReidHarry ReidDems gain upper hand on budget Senate Dems: Don't leave for break without Supreme Court vote Moulitsas: The year of the woman MORE (D-Nev.) originally scheduled a test vote on the bill to repeal oil tax breaks for Wednesday.
But Reid filed cloture on the bill Monday night. The Hill’s Floor Action Blog notes that the bill will likely come up for a vote Tuesday around 6:15 p.m. based on Senate rules.
Sen. Jeff MerkleyJeff MerkleyOvernight Finance: McConnell offers 'clean' funding bill | Dems pan proposal | Flint aid, internet measure not included | More heat for Wells Fargo | New concerns on investor visas Wells CEO Stumpf resigns from Fed advisory panel Senate Dems call for investigation into Wells Fargo's wage practices MORE (D-Ore.) said Monday night on the floor that Reid was forced to file cloture on the bill because Republicans had threatened to conduct a “silent filibuster” if he attempted to bring the legislation to the floor.
Expect Republicans to blast the tax breaks bill on the floor Tuesday for not lowering gas prices. Democrats will counter that the bill is not meant to provide relief at the pump, but to reduce the deficit.
The nonpartisan Congressional Research Service says the bill will have no impact on gas prices.
Ben Geman and Josiah Ryan contributed to this story.