WASHINGTON (CNN) -- The Senate Finance Committee on Tuesday rejected two amendments to include a government-run public health insurance option in the only compromise health care bill so far. Sen. Max Baucus said the public option provision would "hold back meaningful reform this year." The amendments by Democratic Sens. Jay Rockefeller of West Virginia and Charles Schumer of New York were opposed by all 10 Republicans on the committee and a few Democrats, including committee Chairman Sen. Max Baucus of Montana. Baucus explained that he liked much about the idea of a public option but that he knew a health care bill containing the provision would fail to win enough support in the full Senate to overcome a Republican filibuster.
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NEW: Finance Committee strikes down second amendment to bill
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Reform bill with public option couldn't win in Senate, Baucus says
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House Democrats plan meetings on merging three versions of reform plan
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Republicans say Democrats' overhaul proposal is too expensive
Democratic proposals passed by another Senate committee and three @placeholder committees all include the public insurance option.
@placeholder and five other committee members -- two fellow Democrats and three Republicans -- negotiated the compromise proposal for months before Baucus brought the measure to the full panel.
By contrast, the budget office said @placeholder proposals would cost more than $1 trillion over 10 years.