McConnell urged his side of the aisle to oppose Reid's motion even if they were in favor of renewing funding for the Ex-Im Bank. 

McConnell said that if he were the Senate leader he would call up that Ex-Im amendment next and allow the GOP jobs bill to move forward unaltered so it could be sent straight to the White House instead of back to the House, where many members oppose the Ex-Im measure.

"If I had my good friend, Harry ReidHarry ReidSanders and Schumer are right: Ellison for DNC chair The Hill's 12:30 Report Hopes rise for law to expand access to experimental drugs MORE's job and I were the majority leader, we'd be turning to the Ex-Im Bank next right after this…because the advantage to being the majority leader obviously is you have the ability to schedule," said McConnell.

Reid leveled a veiled threat at McConnell, suggesting that if the Republicans' killed the Ex-Im amendment several Democrats would turn on the underlying job's bill, casting its future into doubt. 

"Go ahead, my friends," said Reid. "You picked a fight where there is not a necessary fight, but you may be surprised how this weighs up. I say no more... have at it. Vote 'no' on Ex-Im Bank."

Following the failed vote, Reid adjourned the Senate until 9:30 a.m. on Wednesday and suggested he would work with Senate leaders to set further votes on the underlying JOBS Act.