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.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.