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US economy hurtles toward ‘COVID cliff’ with programs set to expire

A slew of expiring emergency programs are setting up an economic “COVID cliff” come 2021, which could see millions of people lose unemployment insurance and get evictions, while a growing wave of small businesses close shop.

March’s CARES Act set up myriad programs to give people economic relief in the earliest days of the COVID-19 pandemic, many of which are set to expire on Dec. 31.

Unless a divided Congress can reach a deal to extend the programs, the country’s economic suffering could skyrocket. Continue reading.

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