INDIANAPOLIS -- A bill that would cut jobless benefits in an effort to shore up the state's unemployment fund passed the Indiana Senate Tuesday evening.

The Republican-crafted bill passed by a near party-line vote of 30 to 20, 6News' Norman Cox reported.

The bill seeks to close the $900 million gap in the state's unemployment fund by reducing benefits, raising taxes on businesses and cutting fraud and abuse.

Republican leaders said Tuesday it's essential that all participants in the system bear some of the burden for saving it from bankruptcy.

"I don't know that we are absolutely adamant that this is the only way to address these issues. We believe it's a good way to address the issue. But any other proposal that's made has to make the numbers add up in terms of restoring the solvency to the system," said Sen. Brandt Hershman, R-Monticello.

The bill now heads back to the Democrat-controlled House, where party leaders said they would be willing to compromise on some issues, but not others.

"I don't think anything is off the table at this point in time, but this particular bill we could not support because it disproportionally put the burden of balancing that unemployment insurance trust fund on the backs of workers," said Minority Leader Sen. Vi Simpson. "There is an increase in premium for employers for sure, but about two-thirds of the 'balancing act' that the Senate Republicans did are in the benefits that are cut to unemployed families."

The bill will now go back to the House and into a conference committee.