U.S. House Speaker Nancy Pelosi, a Democrat from California, center, arrives to the U.S. Capitol in Washington, D.C., U.S., on Friday, March 27, 2020. The House passed the $2 trillion coronavirus rescue plan Friday and will send it to President Donald Trump for his signature. One person voted against it: GOP Rep. Massie of Kentucky. (Photo: Bloomberg)

A group of businesses are asking Congress to consider legislation that helps workers build their emergency savings in a new letter from BPC Action and over 40 companies.

Their letter, which was addressed to House and Senate leaders Nancy Pelosi, Charles Schumer, Mitch McConnell, and Kevin McCarthy, outlines the unstable economic situation for many American workers while making a case for the potential benefits of bolstered emergency savings accounts. It points out that high inflation can make it hard for families to make ends meet, while decreasing the amount of money consumers can set aside for unexpected expenses. According to the letter, a quarter of American households have no emergency savings, and that number rises to 50% for households making less than $50,000 a year.

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