SALEM — In a rare “no” vote victory on the Oregon Senate floor, lawmakers shot down a plan Wednesday to limit the state’s supply of legal recreational marijuana.

The proposal was intended to tamp down the rampant oversupply of marijuana that’s caused prices to plummet. The measure would have allowed the state to limit the number of marijuana production licenses it issues based on supply and demand for the product.

Sen. Michael Dembrow, D-Portland, said oversupply has left the state with enough legal weed to last nearly seven years. He said managing the amount of marijuana produced could prevent the product from slipping into the black market.

Senate Minority Leader Herman Baertschiger Jr. said the state should instead let the free market dictate prices. He said the plan amounted to “socialism” and was “a stab at capitalism in pure form.”

Lawmakers voted down the proposal 17-13. Six Democrats joined 11 Republicans in opposing the bill. One Republican, Tim Knopp of Bend, voted for it.

The measure was moved back to the Rules Committee for further consideration.

-- The Associated Press