Parties could break impasse on small-business lending bill

Despite the perpetual stall in the Senate of a small-business lending and tax-cut bill, there is still a sense among Democrats and Republicans that passing a measure is possible before leaving for the August recess.

The Senate has one week of work left before a long summer break and has a full agenda, including completion of the Supreme Court nomination of Elena Kagan.

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Democratic and Republican aides said Friday they were still trying to reach an accord, leaving the possibility that a bill could be ready this week.

“Absolutely. And we’re hoping that Democrats refuse temptation to turn away from small-business legislation again, hoping they’ll help us finish the bill this time," said one GOP aide.

Senate leaders failed to reach an agreement on amendments Thursday night. Senate Majority Leader Harry ReidHarry Mason ReidDems search for winning playbook Dems face hard choice for State of the Union response The Memo: Immigration battle tests activists’ muscle MORE (D-Nev.) and Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellSessions: 'We should be like Canada' in how we take in immigrants NSA spying program overcomes key Senate hurdle Overnight Finance: Lawmakers see shutdown odds rising | Trump calls for looser rules for bank loans | Consumer bureau moves to revise payday lending rule | Trump warns China on trade deficit MORE (R-Ky.) each amended previous requests, but the changes weren't enough to move the bill that would provide $12 billion in tax breaks and expand credit access for small businesses.

Democrats have agreed to consider three Republican amendments — one by Sen. Orrin HatchOrrin Grant HatchKoch groups: Don't renew expired tax breaks in government funding bill Hatch tweets link to 'invisible' glasses after getting spotted removing pair that wasn't there DHS giving ‘active defense’ cyber tools to private sector, secretary says MORE (Utah), a one-year extension on research and development tax credits; a second by Sen. Chuck GrassleyCharles (Chuck) Ernest GrassleyGOP senators eager for Romney to join them Five hurdles to a big DACA and border deal Grand jury indicts Maryland executive in Uranium One deal: report MORE (Iowa) on the biodiesel tax credit; and a third by Sen. Mike JohannsMichael (Mike) Owen JohannsFarmers, tax incentives can ease the pain of a smaller farm bill Lobbying World To buy a Swiss company, ChemChina must pass through Washington MORE (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.

Democrats would then offer alternative amendments to those offered by the GOP and would agree to remove agricultural disaster aid and several other provisions Republicans oppose.

Republicans want four amendments: the three agreed to by Democrats, plus the fourth authored by Sen. Jeff SessionsJefferson (Jeff) Beauregard SessionsSessions: 'We should be like Canada' in how we take in immigrants DOJ wades into archdiocese fight for ads on DC buses Overnight Cybersecurity: Bipartisan bill aims to deter election interference | Russian hackers target Senate | House Intel panel subpoenas Bannon | DHS giving 'active defense' cyber tools to private sector MORE (R-Ala.) on spending caps.

The Senate has yet to back the amendment, which has some Democratic support, that would place a cap of $1.108 trillion on federal spending.

Although time is tight this week, the bill is still possible if lawmakers can narrow their amendment list and keep to strict time limits, another potential hurdle to jump.

Senate Small Business Chairwoman Mary LandrieuMary LandrieuProject Veritas at risk of losing fundraising license in New York, AG warns You want to recall John McCain? Good luck, it will be impossible CNN producer on new O'Keefe video: Voters are 'stupid,' Trump is 'crazy' MORE (D-La.) spent additional time on the floor Thursday night urging leaders and her colleagues to break the impasse and move the bill before the recess.

"Maybe, just maybe ... the shower on Wall Street can give a little bit of rain to Main Street," Landrieu said.

The House still has to complete the measure before it can go to President Obama for his signature.

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

If Republicans are allowed to offer amendments to the bill — which will happen if leaders can agree on which ones — LeMieux has said he'd support the measure.

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

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