By Erik Wasson - 12/31/13 02:11 PM EST
The Senate jobless aid bill set for a vote next Monday would add $6.4 billion to the deficit over 10 years, the nonpartisan Congressional Budget Office said Tuesday.
The Emergency Unemployment Compensation Extension Act would boost the deficit in 2014 by $6.6 billion but would have the effect of raising revenue slightly in later years.
The Senate bill, sponsored by Sen. Jack ReedJack ReedArmani, Batali among guests at White House state dinner Overnight Finance: Jobless claims near record low | Cops bust IRS phone scam in India | Republican demands Iran sanctions docs Senate Dems demand answers from Wells Fargo over treatment of military MORE (D-R.I.), extends federal unemployment compensation through March 31. The expanded jobless benefits expired on Dec. 28, cutting an estimated 1.3 million people off from the program. Without congressional action, those unemployed through no fault of their own would only be able to access state benefits, which run out more quickly than the expanded federal benefits.
Senate Majority Leader Harry Reid (D-Nev.) said this week the Senate is still on track to hold a cloture vote on the Reed bill on Monday.