From the AP:

The Senate Finance Committee has voted against creating a new government health insurance plan to compete with the private market.

The 15-to-8 vote could forecast the fate of the public option in the Senate as a whole. The outcome was expected but still a defeat for liberals who view government-sponsored insurance for the middle class as a key component of President Barack Obama's health care overhaul.

Five committee Democrats, including Chairman Max Baucus, joined with all 10 committee Republicans to defeat the measure by Democratic Sen. Jay Rockefeller of West Virginia.

Sen. Charles Schumer (D-N.Y.) also has an amendment that includes a public option up for a vote today, though the Rockefeller amendment vote result makes Schumer's proposal a long-shot, even though it is less progressive than Rockefeller's.

You can follow along on the New York Times' excellent live-blog of the committee proceedings.

UPDATED 3:51 p.m.: The committee just voted down Schumer's amendment on a 10-13 vote.