Small business bill appears stalled until next week

Senate leaders gave a small-business bill another shot Thursday night but still couldn't manage an agreement on amendments, likely stalling the measure until next week. 

Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) offered up potential agreements that each failed to appeal to their colleagues.

The bill would provide $12 billion in tax breaks and expand credit access for small businesses. 

Reid said Democrats have agreed to consider three Republican amendments -- one by Sen. Orrin Hatch (Utah), a one-year extension on research and development tax credits, a second by Sen. Chuck Grassley (Iowa) on the biodiesel tax credit and a third by Sen. Mike Johanns (Neb.) to nix a provision requiring any taxpayer with business income to issue 1099 forms to all vendors from whom they buy more than $600 of goods or services in any year.

Reid said Democrats would offer alternative amendments to those offered by the GOP and would agree to remove agricultural disaster aid and several other provisions from the bill that Republicans oppose. 

Landrieu along with Republican Sen. George LeMieux (Fla.), who joined Democrats a week ago to push through a $30 billion lending fund to help community banks can lend to small businesses, had urged leaders to reach an agreement today. 

"If they can't work it out, shame on us when there's bipartisan support for this bill," LeMieux said earlier today. 

Business organizations have argued that the $30 billion fund could spur $300 billion in lending.