Prior to the vote on passage, which is set for after 4 p.m., the upper chamber will engage in five-hours of debate and votes on three amendments that pertain to the legislation.
The most controversial amendment of the three is sponsored by Sen. Tom Coburn (R-Okla.) and in effect would prohibit the federal government from using funds raised through patent fees for unrelated purposes.
The other two amendments offered by Sens. Jeff Sessions (R-Ala.) and Maria Cantwell (D-Wash.), pertain to patent term extensions and a transitional program for covered business method patents, respectively.
Before adjourning the Senate at about 8 p.m. Reid also outlined the schedule for the rest of the week saying the Senate would move to a procedural vote on a joint resolution of disapproval of the president’s exercise of authority to increase the debt limit. That vote will occur after President Obama delivers his "jobs" speech to a joint session of Congress on Thursday night.
Reid said if that resolution is taken up he might hold the Senate open “for a long time” on Friday to "dispose" of it.
The Senate is set to return at 9:30 a.m. on Thursday.