The agreement will extend for five months the federal unemployment-insurance program (which benefits those who have been out of work for at least six months). Because the new program will include retroactive benefits from December, the extension would expire for all beneficiaries in late May.

The agreement is similar to one proposed by Senate Republicans just last week.

The bill is paid for by extending customs user fees through 2024 and a process called “pension smoothing” that allows employers to reduce their payments to employees’ pensions. The final agreement would not prevent individuals from collecting both unemployment and disability benefits simultaneously, as previously proposed by Sen. Rob Portman, R-Ohio.