Senate negotiators are nearing a deal to extend emergency unemployment insurance for a full year, aides involved in the negotiations tell The Huffington Post.
The deal was still in the works early Thursday afternoon, and like all sensitive political negotiations, it remained possible that it could still fall apart. But aides were optimistic enough to float the idea that Senate Majority Leader Harry Reid (D-Nev.) could announce something later in the day.
At issue is how to pay for a $26 billion, year-long extension, since Senate Democrats are resisting passing a short-term, three-month extension if its costs have to be offset. The proposal now under consideration would find the money by extending the mandatory sequestration cuts for another year, saving an estimated $17 billion.
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