Committee Chairman Michael Guest announced after a two-hour meeting that there was no agreement to release the report, following Gaetz's recent resignation from the House.
The committee vote split along party lines, with House Republicans voting to block the release while Democrats supported making the report public.
The investigation reportedly uncovered documentation showing payment trails from Gaetz to women, including some who testified about being hired for sex.
Withholding the ethics report compromises the Senate's constitutional duty to properly vet cabinet nominees and conceals critical information about potential criminal conduct. The documented evidence and witness testimonies must be made available for proper scrutiny of an attorney general nominee.