Huffpost Politics

Senators Reach Compromise On Extending Benefits For Long-Term Unemployed

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HARRY REID
Senate Majority Leader Harry Reid, D-Nev., faces reporters at the Capitol after bipartisan Senate opposition blocked swift confirmation for President Barack Obama's choice to head the Justice Department's Civil Rights division, in Washington, Wednesday, March 5, 2014. The vote against advancing Debo Adegbile toward confirmation was 47-52, short of the majority needed under new procedures Democrats put in place earlier this year to overcome Republican stalling tactics. In this case, all 44 voting | ASSOCIATED PRESS

BY THE ASSOCIATED PRESS

WASHINGTON (AP) — A bipartisan group of senators says they have reached a compromise extending jobless benefits for the long-term unemployed for five months.

If the Senate approves the deal, it would break a months-long stalemate over the issue in the chamber between the two parties.

Two leaders of the negotiations — Democratic Sen. Jack Reed of Rhode Island and Republican Sen. Dean Heller of Nevada — said in a statement that the deal would be retroactive to the end of last year. Since that time, jobless coverage has expired for roughly 2 million people.

The proposal would be paid for by extending some customs fees and changing how some companies set aside money for pensions, in effect increasing their taxes.

The deal also ends jobless payments to people earning over $1 million.

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