The Seanad has voted against an amendment to the Finance Bill proposed by the Labour party.
The Labour Party proposed a tax benefit analysis of the tax measures in the Bill.
However, the Seanad voted against the amendment 29 votes to 24.
Tax incentives are dominating the debate so far, with Senator David Norris voicing concerns that loopholes could emerge as a result of the Bill being rushed through.
Finance Minister Brian Lenihan however said Senator Norris has no need to be concerned