It’s ‘the most wonderful time of the year,’ but unless Congress acts – 12 million Americans will lose unemployment benefits the day after Christmas.

CBS News reports that, if that happens, many households could be pushed into poverty. Such a scenario could hinder COVID-19 economic recovery efforts.

Two programs authorized the CARES Act have Dec. 26, 2020 expiration dates. The Pandemic Unemployment Assistance Program covers 7.3 million Americans. Another 4.6 million receive Pandemic Emergency Unemployment Compensation benefits.

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