Congress passes unfunded payroll tax cut extention

Updated at 1:35 pm ET - By a vote of 60 to 36, the Senate passed a bill Friday to keep the Social Security payroll tax at its lower 4.2 percent rate and to extend unemployment benefits.

Republican leaders were split on the measure, with GOP Leader Sen. Mitch McConnell of Kentucky voting for it, but GOP Whip Jon Kyl of Arizona voting against it.

Forty-six Democrats and 14 Republicans voted for the bill, while five Democrats and 31 Republicans voted against it.

The Congressional Budget Office said the bill would increase federal deficits by $89.3 billion over the next ten years.

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What's another $89 Billion?