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Business News Roundup, April 12, 2021

A discretionary spending proposal, a crucial point for economic recovery, higher materials costs and corporate profits, negotiations on Connecticut executive orders, and an extended deadline for an innovation competition are among the top business news items this morning.


President Joe Biden has outlined a proposal for a third major spending strategy to invest $1.52 trillion on discretionary initiatives. The package, which follows the $1.9 trillion American Rescue Act to provide COVID-19 relief and a proposed $2 trillion infrastructure overhaul, represents a 16 percent increase in domestic program spending and would target areas such as education, health research, and climate change.

Declaring the United States to be at an “inflection point” for economic recovery, Federal Reserve Chairman Jerome Powell cautioned in a 60 Minutes interview that COVID-19 precautions such as mask wearing and social distancing should remain in place for the time being. Powell said a resurgence in the virus would represent a major economic risk.

Business trends

Increasing raw materials costs are creating extra expenses for companies, but also have the potential to increase their profits. The Wall Street Journal shows how historic trends show that higher input costs typically presage broader economic growth, as businesses pass on expenses through higher pricing and increase their profit margins.


Governor Ned Lamont and leaders in the Connecticut General Assembly are taking steps to determine which of the hundreds of executive orders Lamont issued during the COVID-19 pandemic should be extended or codified into law. Lamont, whose emergency powers are set to expire on May 20, has identified 80 orders he would like to remain in place.

The Women of Innovation competition is extending its deadline for nominations. People can now submit nominations through June 18.

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