Democrats had earlier sought to finance the measure by adding to the more than $13 trillion U.S. national debt. Pressure from deficit hawks in both parties ultimately forced Democratic leaders to pay for the measure by cutting other programs and raising taxes.
Among the pay-fors chosen by Senate Majority Leader Harry Reid, D-Nev., was a $12 billion cut to food stamps that would cost a family of four $59 a month beginning in early 2014 and a tax increase that limits the ability of some U.S.-based multinational companies to use foreign tax credits to reduce their U.S. taxes.
"That would have the effect of driving jobs overseas," said Sen. Lamar Alexander, R-Tenn.
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A vote scheduled for Monday had been postponed after an analysis by the Congressional Budget Office showed the measure would add to the federal deficit. Snowe and Collins also had been concerned about cuts to Navy shipbuilding accounts since the Bath Iron Works in Maine is so essential to the state's economy. Majority Leader Harry Reid got rid of those proposed cuts Monday night.
Reid orchestrated other changes to close an almost $5 billion deficit gap, including adjustments to a tax credit claimed by the working poor.
Collins has been a past supporter of giving states help with their budgets and was the driving force behind an aid package enacted in 2003 that added $20 billion to the deficit.
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The current measure is heavily backed by unions for teachers and public employees, key allies of the Democratic Party. The American Federation of State, County and Municipal Employees ran ads Wednesday in four Maine newspapers urging Collins and Snowe to help break the filibuster.