Unemployment Benefits to Lapse as Congress Fails to Agree

http://www.bloomberg.com/news/2013-12-12/last-ditch-effort-mounted-to-extend-unemployment-benefits.html

Unemployment benefits for 1.3 million people in the U.S. are poised to end Dec. 28 as Democrats failed in their last-ditch effort to extend the jobless assistance before the House adjourns tomorrow.

Republicans who control the House refused to keep the aid flowing to the long-term unemployed without agreement on budget cuts elsewhere. Extending the benefits would cost $26 billion over two years, according to the Congressional Budget Office.

Senate Majority Leader Harry Reid today said the lawmakers won’t have a chance to act before leaving for the holiday recess. It will be the first issue taken up when Congress reconvenes next month, Reid said, and lawmakers would try to make the benefits retroactive.