By Mario Trujillo - 12/31/13 10:36 AM EST
Sen. Bob CaseyBob CaseyDems to GOP: Help us fix ObamaCare Enough bickering, time to stay focused on important issues: Pennsylvania holds keys in Clinton-Trump tilt MORE (D-Pa.) on Tuesday said Congress should find a way to offset the cost of renewing federal unemployment benefits.
“I think we can find an offset and we should,” Casey said Tuesday on MSNBC. “As you know, we went a lot of years in this country providing unemployment compensation without an offset. But if that is what it takes to get it done, then I think we can get that done.”
While some Republicans have called for an end to the long-term benefits, Speaker John BoehnerJohn BoehnerRepublican Study Committee elders back Harris for chairman Dems to GOP: Help us fix ObamaCare The disorderly order of presidential succession MORE (R-Ohio) has not taken a firm position on extending the program. The GOP has indicated that any deal to extend the program would need to be offset.
The price tag for a yearlong extension of the aid is $26 billion.
Casey said closing loopholes in the tax code is a a ripe target for finding offsets to fund the program.
“There are plenty of places to go,” he said. “Often the tax code provides some opportunities.”
He added, “And I hope our Republican friends are willing to join us to get rid of some loopholes that have been in place for a long period of time.”
Obama has called for a temporary extension of the benefits without offsets. The president has endorsed a plan by Sens. Jack ReedJack ReedOvernight Finance: McConnell offers 'clean' funding bill | Dems pan proposal | Flint aid, internet measure not included | More heat for Wells Fargo | New concerns on investor visas Senate Dems call for investigation into Wells Fargo's wage practices Week ahead: Negotiators near deal on defense bill MORE (D-R.I.) and Dean HellerDean HellerSenate lays groundwork for spending deal GOP pressures Kerry on Russia's use of Iranian airbase Overnight Finance: Senators struggle with spending bill | Obama lifting Myanmar sanctions | Dems turn up heat on Wells Fargo | Panel votes to exempt Olympic medals from taxes MORE (R-Nev.) that is teed up as the first order of business when the Senate returns in January.
Democrats, including House Minority Leader Nancy Pelosi (Calif.), have argued that offsets are unnecessary and have pointed to studies that show the benefits drive money into the economy.
Casey echoed that sentiment on Tuesday, but endorsed offsets for a long-term extension.
“If we don’t continue this kind of unemployment compensation ... we lose by one estimate 200,000 jobs, by another over 300,000 jobs,” he said.