Jobless Aid Bill Passes Senate

Today, by a 62-36 margin, the U.S. Senate passed a $149 billion package designed to provide aid and benefits to unemployed persons, as well as tax breaks to small businesses to spur job creation.

Of this total, $25 billion will head to states who need federal assistance to prop up depleted Medicaid funds for impoverished residents. Another $25 billion is from a restoration of tax breaks for small businesses that expired in 2009.

The bill now moves towards reconciliation with the House and its version of the bill, which is substantially more robust and far-reaching than the Senate's legislation. Given the support for the measure in both houses, though, it is likely that Pres. Obama will sign a combined bill into law within the week.