The GOP-lead effort to scuttle new Environmental Protection regulations, the Mercury and Air Toxic Standards Rule governing power plant emissions was shot down today in the Senate.

In a 46-53 vote, Senators voted against Senator James Inhofe’s resolution. Five Republicans joined the Democratic majority in the Senate to block the measure. The measure would have overturned regulations that coal industry groups have said will hurt the economy, close power plant doors and raise power costs.

Senators backing the EPA’s regulation governing power plant emissions, say that the claims of harm to the economy are vastly over-exaggerated, saying planned closures of plants come not from the new rules but from the low cost of natural gas that can alternately power the plants as well as a wide array of other factors.

The EPA estimates the Utility MACT Rule will prevent 11,000 premature deaths a year, as well as 4,700 heart attacks and 130,000 cases of childhood asthma. It is estimated that the reduction of sulfur dioxide and other fine particulates will save Americans as much as $90 Billion a year in health related costs. Implementation of the rule is estimated to cost $9.6 Billion.

Republican Presidential candidate, Mitt Romney critisized the EPA rule but would not comment on Inhofe’s resolution.

The White House, on the other hand said, “The Mercury and Air Toxics Standards will ensure that the Nation’s power plants install modern, widely available technologies to limit harmful pollution — leveling the playing field for power plants that already have such controls in place.”

If the resolution had gone to a vote and won, it would have been a serious election year slap to President Obama’s green agenda. The White House threatened to veto Inhofe’s resolution on Monday

Alaska’s Senator, Lisa Murkowski took to the Senate floor today to speak of her opposition to the EPA’s MACT Rule before the vote. “The EPA is proceeding with an unprecedented litany of new rules whose benefits are murky but whose costs are very real and detrimental to human welfare,” Murkowski said. “The nation can and must do a better job of striking the proper balance. Even in today’s divided times, a broad consensus remains: achieving affordable and abundant energy coupled with strong environmental standards is the right combination. Most would also agree that energy and environment-related public policy decisions should be based on the facts and informed by rigorous scientific discourse.”

This is the second time that the Congressional Review Act has been utilized to try and overturn an EPA powerplant rule. The first was in November when Senator Rand Paul attempted to nullify the Cross-State Air Pollution Rule. That rule requires curbs in smog and particulate-forming pollution from plants in 27 states in the eastern half of the country. That vote failed as well.

Alaska’s Senator Mark Begich, even though he was urged by the Resource Development Council to support the resolution, voted against it.