GOP objects, for now, to unemployment benefits extension

Sen. Jon Kyl, R-AZ, objected Thursday to Democratic leaders bringing up a bill that would extend unemployment insurance for up to 14 weeks w/ those in high unemployment states, above 8.5%, getting an additional 6 weeks beyond the 14.

Kyl said Republicans just got the bill and need more time to read it -- possibly offer amendments.

The Dems pay for the bill by extending the Federal Unemployment Tax (FUTA) through June 30, 2011 -- a tax paid by employers. CBO estimatess that one year of FUTA, to Dec. 2010 yields about $1.4 billion; through June 30, 2011, it totals approximately $2.6 billion.

In the end -- the measure, according to CBO costs $2.4 billion in the first year and eventually pays for itself with a $200m surprlus.

FLOOR TRANSCRIPT

KYL -- I have no doubt that at the appropriate time we'll be able to work out some kind of agreement. but our side is going to need some time to look at it. we'll need some republican ideas or amendments as well and need a c.b.o. score. so at this time i'll have to -- on behalf of members on our side16:44:26-- impose an objection.

THE PRESIDING OFFICER:objection is heard.

REID. (D-NV):madam president, if i could just say -- and i know others want to speak -- we found a new stalling tactic nowvment it's pretty new. this is the c.b.o. now i'm sure everything is going to be c.b.o. but anyway, i'm sorry that the consent was not granted.