Democrats continue to bang out the details of a proposed economic stimulus bill, and the White House has shelved an effort by the previous administration to force the sale of the social media app TikTok. Co-working spaces face a dilemma, and offshore wind developers are embracing enormous turbines. In Connecticut, a state budget is being proposed today, along with a proposal to legalize recreational marijuana use and sales; a Hartford city councilor has also abandoned an effort aimed at reducing the number of vacant storefronts.
National
The House of Representatives continues to work out the details of President Joe Biden’s $1.9 trillion economic stimulus proposal, with nine committees crafting bills that will be part of the package. The portion completed by the House Education and Labor Committee retains a proposal to gradually increase the federal minimum wage to $15 an hour.
The Biden administration is indefinitely postponing efforts to force the sale of the American-owned operations of the Chinese-owned social media platform TikTok. Former President Donald Trump pushed the sale due to perceived security concerns, but the effort was quickly mired in legal challenges.
Business trends
With remote work arrangements likely to become more permanent after the COVID-19 pandemic, co-working spaces are working to update their business models. The Wall Street Journal reports how these spaces are likely to ditch their lease-and-sublet model in favor of models such as revenue-sharing agreements.
Giant turbines are becoming more common in proposed offshore wind developments. The Danish company Vestas recently announced that it plans to introduce a prototype of an enormous 15-megawatt turbine next year, which would allow it to compete with another mammoth design created by GE.
Connecticut
Governor Ned Lamont is introducing a state budget that aims to provide additional support to Connecticut cities and towns while closing a budget deficit without raising taxes. Lamont has warned that the state needs to be cautious in its spending, and the budget doesn’t include previously approved tax relief for businesses or provide relief sought by nonprofits.
The Connecticut Mirror is reporting that Lamont will introduce legislation today seeking to permit the sale and possession of recreational marijuana by May 2022. The proposal reportedly legalizes these activities for residents ages 21 and older, with tax revenues from recreational marijuana sales going to the state and municipalities.
A Hartford city councilor has withdrawn a controversial measure that would fine commercial landlords in the city $100 a day if they maintained a vacant storefront for four months or longer. The proposal was introduced with the intent of encouraging landlords to find ways to fill these spaces, but encountered pushback from the business community.
