A group of House Democrats and Republicans, the so-called House Problem Solvers Caucus, is said to put together a $1.51 trillion stimulus bill. It is to be unveiled on September 15th at 11:00 ET in a press conference, New York Times reports.

  • The proposal includes restarting unemployment checks at $450/ week, potentially raising them up to $600/week as long as this sum doesn’t exceed workers’ prior wages. 
  • The proposal asks for direct checks of $1,200 or more for the American taxpayers and also includes $500 billion aid for state and local government, $15 billion for the postal service, and $400 million for election assistance. 
  • The House Problem Solvers Caucus gives their project little chance to become a law due to the partisan divisions between Democrats and Liberals.

The coalition proposing the measures is led by Representatives Tom Reed, Republican of New York, and Josh Gottheimer, Democrat of New Jersey, and aims to be voted on in the legislature before the November election.

Gold and US dollar stand steady ahead of the conference. DXY is flat, Gold Futures in negative territory -0.38%.