The chamber's governing panel said it would keep speaker Renan Calheiros in his post until a full session of all 11 judges in the Supreme Court rules on whether he should be suspended.
"Removing the speaker of the Senate from his post nine days before the end of his term... Through a monocratic decision... Even in Brazil, democracy does not deserve such a fate," Calheiros told reporters after meeting with the panel.
Supreme court judge Marco Aurelio Mello yesterday ordered the suspension of Calheiros, 61, the third most powerful official in Brazil.
It threatened to derail his legislation for a cap on public spending.
Calheiros's allies in the Senate filed an appeal at the Supreme Court today arguing that his suspension poses "an enormous risk to the normal functioning of legislative work."
The supreme court last week ordered Calheiros to face trial on embezzlement charges. He has denied accusations he used public money to make support payments to a woman with whom he had a child.
In a separate case, Calheiros is among numerous top politicians including an ex-president and lawmakers accused of helping steal billions from the state oil firm Petrobras.
Temer went from vice-president to president this year when he and Calheiros drove proceedings that saw Brazil's previous president, Dilma Rousseff, impeached for fiddling with government books.
Although Temer has not been formally investigated himself over the Petrobras scandal, it has forced the resignation of several of his ministers.
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