New York (CNN Business) The Federal Reserve and other central banks around the world have taken swift, coordinated action to help stabilize the global economy and financial markets. They've dedicated trillions of dollars worth of stimulus during the coronavirus pandemic.

Politicians in Washington are stepping up to the plate, too. Congress is reportedly close to approving a financial aid package to help struggling consumers and businesses.

Another leg of stimulus could potentially come from Corporate America. Companies can (and should) help the economy by putting their ample cash reserves to work.

Companies have a lot of cash, and many of them are starting to realize that they can put it to work for better use than simply rewarding shareholders with stock buybacks and dividends: They can support their workers and other Americans too.

Big businesses have a lot of cash on hand