The Senate killed a proposed cut in Social Security taxes after a warning that the reduction would deny the national treasury more than $150 billion in revenues and virtually torpedo any budget agreement.

The Senate rejected the legislation 54-44 Wednesday on a procedural vote - it exceeded the budget ceiling - precluding a vote on the question of cutting the tax rate and putting Social Security on a pay-as-you-go basis.The point of order was raised by Sen. Ted Stevens, R-Alaska, and it would have taken a 60-vote majority to override it.

"They have not told us where the money will come from," he said. "Somebody will have to come up with $150 billion in revenues if this passes."

The vote also killed two amendments, both proposals to change the Social Security system, which had drawn strong backing.