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Business News Roundup, April 16, 2021

A debate over the SALT cap, SBA lending bills clear the House, a disconnect between unemployment and labor shortages, a warning from insurers, and another court decision upholding gubernatorial emergency powers in Connecticut are among the top business news items this morning.


The state and local tax deduction cap is becoming a factor in the debate over President Joe Biden’s infrastructure proposal, with some lawmakers demanding that a repeal of the cap be included in the final legislation. The $10,000 cap was established under a Republican-led tax law in 2017; critics, including progressive Democrats, argue that a SALT cap repeal would primarily benefit wealthy Americans, while supporters say the cap is also affecting the middle class.

The House of Representatives has passed three bipartisan bills aimed at improving lending programs overseen by the U.S. Small Business Administration. The legislation enables more affordable microloans and makes adjustments in manufacturing loans, including an increase of the maximum manufacturing loan amount to $6.5 million.

Business trends

A New York Times analysis looks at the disconnect between a persistently high unemployment rate and several business sectors that are struggling to hire new employees. Several factors could account for the situation, including child care needs, fear of contracting COVID-19, dissatisfaction with compensation offered by employers, and workers preparing for career shifts.


With Connecticut planning an expansion of its publicly funded health insurance, five insurers have warned Governor Ned Lamont that the move could drive businesses out of Connecticut. The carriers, all headquartered in the state, say the increasing prevalence of remote work is making it easier for companies to decide where they should be located, increasing the need for an “a climate that retains and attracts businesses that will help stabilize the economy.”

A federal judge has rejected a lawsuit from a Westville restaurant challenging the constitutionality of Lamont’s emergency powers, saying the business’s owners failed to show how Lamont’s orders violated their rights. Several lawsuits filed in response to Lamont’s emergency powers and executive orders have already been dismissed in the courts.

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