New York (CNNMoney.com) - The Senate voted Tuesday to move the $42 billion Small Business Jobs Act forward, bringing the bill one step closer to passage.
The bill passed a key test vote 61 to 37. A final vote is expected later this week. If the bill does pass a final Senate vote, it would still have to go back to the House of Representatives before it could hit the President's desk.
The measure is expected to create 500,000 jobs, according to a summary of the bill from the Senate.
The House passed its own version of the bill nearly three months ago. But the bill met opposition in the Senate. President Obama has been lobbying really hard to push the Senate to move on the bill.