Republicans oppose the measure, pointing to a CBO report predicting major job losses.
Earlier Obama announced a plan to expand those eligible for overtime pay.
Manufacturers' optimism has perked up to its highest levels in more than a year, according to a new survey released on Monday.
A National Association of Manufacturers (NAM) survey found that found that 86.1 percent of respondents were either somewhat or very positive about their company’s outlook, the highest sign of manufacturer confidence since the fiscal cliff debate of 2012.
The budget debate is shifting to the appropriations committees as lawmakers begin work on their annual spending bills.
Senators have tried and failed this year to renew long-term unemployment insurance.
The unemployment rate rose to 6.7 percent in the February report.
Friday's numbers on jobs come directly after back-to-back underwhelming reports, raising questions about whether it's just cold weather — or something less cyclical — causing the sluggish figures.
The legislation would allow the Obama administration to provide loan guarantees to Ukraine.
Federal Reserve Chairwoman Janet Yellen vowed to do all she could to boost the economy when she was formally sworn in to the job Wednesday.