In the voting, Sen. Thad Cochran joined Lott in voting for the amendment.
Alabama's Senators Richard Shelby and Seff Sessions voted against it.
Lott explained why he believes the amendment didn't get enough support.
"One of them that was very interesting to me was Sen. Ted Kennedy. He voted with us last year against the base closure round and then he switched yesterday," said Lott. "And if he had voted with us, the vote would have been a dead tie 48-48. We'd have been able to reconsider that vote again today. We had three senators that missed the vote yesterday for a variety of reasons. That would have given us a 50 to 49 victory."
The U.S. House is set to consider a two-year delay in base closings as part of its version of the defense bill. Lott said he believes that measure will pass in the lower chamber.
The Associated Press contributed to this report.