The U.S. Senate has reached a deal on extending unemployment benefits for the almost 2 million Americans who lost their financial assistance since the December expiration of long-term jobless benefits.
The plan will retroactively provide benefits to those who lost them and extend long-term jobless assistance for five months. The bill will also prevent millionaires and billionaires from receiving unemployment benefits. The bill will also set aside resources for additional job placement and training programs.
The restoration of benefits, if passed, are set to be paid for by changes to the pension programs of federal employees, which are set to take place over the next decade, as well as U.S. Customs fees that were included in the last federal budget deal.
GOP Illinois Senator Mark Kirk says he is pretty certain the bill will be supported by Republicans, according to Politico. At least five Republicans are expected to accompany Democratic co-sponsor Jack Reed (D-R.I.) when the deal is announced.
The Senate, which goes on break after today's session, will not vote on the deal until they return from the 10-day St. Patrick's Day recess.