Senate Reaches Unemployment Insurance Compromise

Senators Jack Reed (D-RI) and Dean Heller (R-Nev.) announced Thursday that they have the votes needed to override a filibuster against extending unemployment insurance.


When the Senate voted last month to override the filibuster they received support from four Republicans but came one vote short before Reid changed his vote in order to bring it to the floor again. Now the bipartisan duo are boasting four Republican co-sponsors in addition to Heller.


The Republican support comes from Sen. Rob Portman (R-Ohio), Lisa Murkowski (R-Ak.), Mark Kirk (R-Il.) and Susan Collins (R-Me.).


The legislation will extend insurance for the long-term unemployed for five months. The insurance expired on December 28th of last year.


According to details released by Reed, the legislation will provide retroactive payments for those who lost their benefits. It's paid through pension smoothing offsets, extending custom fees and allowing employer pension plans to prepay premiums.






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