With ten times as many claims for unemployment, I don't think anybody would be stockpiling such a large reserve. The money to have such a large reserve is essentially being removed from the rest of the economy and business interests would have a legitimate argument for stating that employers are being taxed too heavily.
In Texas, the "rainy day" fund is about $14 billion if I recall correctly. While that sounds like a large amount, in reality it is only adequate to provide 70 days of operations under normal circumstances. Texas is fifth in the country for how long they can sustain their budget without receiving assistance from the federal government. Even knowing that the state only has a few months of reserves, people were already calling for the rainy day fund to be reduced to cover normal budgetary expenses.
There are other states such as Illinois, Kansas, and Pennsylvania that can literally exhaust their financial reserves in one day. Ohio only has financial reserves for about one month.
https://www.pewtrusts.org/en/research-and-analysis/articles/2020/03/18/states-financial-reserves-hit-record-highs
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