Republicans still divided over unemployment boost extension

Extending a pandemic unemployment boost is seemingly in consideration for Senate Republicans.

Senate Majority Leader Mitch McConnell (R-Ky.) indicated his party wouldn't back extending the $600/week bonus by leaving it out of his preview of the next COVID-19 stimulus bill on Tuesday. But after some discussions, senators say a boost is back on the table — albeit one much, much smaller than the boost set to expire at the end of July.

Sen. John Barrasso (R-Wyo.), the No. 3 ranking GOP senator, told NBC News on Wednesday that Republicans are considering a short-term extension of the unemployment benefits going to millions of Americans out of work. "Discussions come down to both the duration and at what price point," he said. Sen. Rob Portman (R-Ohio) similarly indicated "we can't allow there to be a cliff in unemployment insurance," even if the Senate fails to arrange the next relief bill by the time the current CARES Act expires.

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Republicans are discussing an additional $400/month on top of regular unemployment benefits, to be extended through December, sources tell CNBC. Democrats meanwhile want to extend the $600/week benefit through the end of the year, and included it in their $3.5 trillion version of the stimulus bill. Economists agree the the $600 sum should either continue through the year or even increase, according to a FiveThirtyEight survey.