Senate rejects "Tax Extenders" bill, including SBA loan Recovery Act provisions

The Senate effectively rejected a slimmed-down package of jobless benefits and state aid late Thursday, rebuffing President Obama's call for urgent action to bolster the economic recovery. HR 4213 includes a $620 million appropriation that would extend the SBA loan Recovery Act provisions. There will be no votes today (Friday) in the Senate, and right now it is unclear what the next steps might be for HR 4213.