McConnell's proposal would have provided a 30-day extension to unemployment insurance, the so-called Medicare "doc fix," COBRA health insurance, flood insurance, the small-business loan guarantee and the 2009 federal poverty guidelines.
"This is a paid-for 30-day extension of the extenders bill," McConnell said, adding, "This proposal would actually reduce the debt by $2.5 billion."
Reid also said that McConnell's proposal did not provide a meaningful extension to the provisions.
"A 30-day extension doesn't solve the problems we have," he said, adding, "We have to have a legitimate program to extend these benefits into the future. Thirty days doesn't do it. It just kicks the ball down the road."