The Obama administration continued its push Tuesday for a $30 billion small-business lending fund that has been hit with numerous stops and starts in the Senate.
On a conference call with reporters, administration officials urged lawmakers to stop delays on the bill and said that the president would tout the legislation during a speech in New Jersey on Wednesday.
"We do not see any reason for anyone to hold up this bill," said Gene Sperling, counselor to the Treasury secretary. "We believe a vote on final passage on this bill will pass with bipartisan support and there is no reason for anyone in the minority to hold up this vote."
The program would create a $30 billion fund to provide capital to community banks to spur small-business lending. The bill also includes small-business tax incentives and Small Business Administration guarantees.
On June 29, the Senate voted to proceed with debate on the bill, but it has since languished in the chamber.
The administration is hoping the measure will be passed this week, and the Senate is to resume consideration of it on Wednesday.
Republicans have opposed the measure, saying it is a repeat of the Troubled Asset Relief Program and blasting the Senate leadership for not allowing enough GOP amendments.
Sperling again tried to refute the Republicans' Tarp characterization.
"It's an unfortunate political slogan that does not look at the actual facts of the program or the fact that these recipients are not the ones who would participate in a Tarp program," he said.