While Senate Democrats this week offer a new compromise on U.S. tax cuts including an extension of the payroll tax cut, broader tax reform remains unresolved heading into next year’s presidential election. Small businesses especially have a lot at stake.

Small business, for example, could benefit from a beefed up research and development tax credits, said Dean Zerbe, national managing director at the Alliant Group, and former tax counsel for the Senate Finance Committee. The popular tax credit celebrated its 30th anniversary in October. “It can be a life saver for a small business owner,” Zerbe said.