"Americans' cash cushions have been declining for months, most acutely among low-income households, underscoring the already-precarious financial situation of the millions of people who may soon lose their jobless benefits."The median household checking account balance surged by 65% after the arrival of stimulus checks in April, formally known as Economic Impact Payments, but balances have steadily declined since May, according to a report published Wednesday by the J.P.Morgan Chase Institute."Part of the biggest US bank, it estimates 9.4 million people are on track to lose their unemployment benefits at the end of the month without congressional action. The vast majority of those people are receiving Pandemic Unemployment Assistance, a program that offers jobless benefits to those not traditionally eligible like gig workers."
"Lawmakers are trying to hammer out an agreement by Friday, when Congress hits the deadline to pass legislation to keep the government funded. Leaders from both parties hope to attach the Covid-19 aid package to the government funding bill."