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Liberal and moderate Democrats in the US Senate reached a deal on the proposal to extend the jobless benefits through September instead of August at $300 per week, compared to $400 in the previous proposal, Reuters reported on Friday.

The first $10,200 of unemployment benefits would be untaxed if the new Senate Democratic proposal is adopted, a Democratic aide told Reuters.

Market reaction

This headline doesn’t seem to be having a noticeable impact on market sentiment. As of writing, the S&P 500 Index was flat on the day at 3,768.