Jan. 9 (Bloomberg) — Senate Majority Leader Harry Reid offered a Democratic plan to revive expanded jobless benefits through mid-November that he said meets Republicans' demand that the price tag would be covered by budget reductions.

"We believe this is a sound and balanced proposal," Reid, a Nevada Democrat, said on the Senate floor today. He said the plan was being offered to Nevada Senator Dean Heller, the lead Republican in the negotiations.

Democrats are trying to win support from a handful of Republicans to restore expanded unemployment benefits that ran out Dec. 28 for 1.3 million Americans. Senate Republican leader Mitch McConnell's spokesman Don Stewart said in a posting on Twitter after Reid's statement that there was "still no agreement" among leaders.

Reid said the proposal would partially cover the cost of benefits with a one-year extension of federal spending cuts, known as sequestration. It also would eliminate some "double- dipping" by people eligible for both unemployment and disability insurance, Reid said.

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