Reid: Cloture vote on unemployment insurance by day's end

Senate Majority Leader Harry Reid (D-Nev.) stressed Thursday he hoped to advance a bill that would extend unemployment insurance to its next stage by the day's end.

Both Democrats and Republicans would have ample opportunity before the legislation is due for its cloture vote this afternoon to shape the legislation and debate a "finite" list of amendments, Reid added during his speech.

"That [bill] is so important; millions of people in America today... their unemployment benefits have run out," Reid stressed during morning business.

"I have had conversations with my Republican colleagues, and they want some amendments," the majority leader added. "I see no reason we can't have a reasonable number of amendments on each side, and complete the legislation today."

Democrats' bill to offer jobless Americans at least 14 additional weeks of unemployment benefits has encountered a number of obstacles since it passed the House in September.

At first, Senate Democrats were unhappy with the House's effort because the bill would have only provided additional benefits to states with exceptionally high unemployment rates. However, the majority party has since remedied that limit, offering an extension to all Americans and an additional six weeks for those in states with unemployment rates above 8.5 percent.

Senate Republicans, however, are still taking issue with the bill's funding mechanism. While many agree with the need for an extension, some GOP lawmakers believe Democrats should not pay for it with an extension of an unemployment surtax on employers. The party is likely to offer that amendment -- as well as additional proposals related to immigration and ACORN funding -- at some point Thursday afternoon.