Senate Republicans blocked a measure that would cut taxes and ease credit for small businesses, saying they objected that Democrats refused to consider their amendments to extend tax breaks and cap federal spending.
The Senate voted 58-42 today to end debate on the bill, falling short of the 60 votes required to consider the legislation for passage.
Senate Majority Leader Harry Reid, a Nevada Democrat, said he would work with Republicans over the next few days to seek a compromise on which amendments would be offered. Reid said he hopes the legislation can be passed before the Senate breaks for its August recess.
Full story: Republicans Block Small-Business Lending Measure – Bloomberg