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MSJ NEWS see latest news

Business News Roundup, Jan. 24, 2022

An effort to rebuild the Build Back Better Act, a federal court ruling against a COVID-19 vaccine mandate, economists’ input on the causes of persistent inflation, and Governor Ned Lamont’s top legislative priorities for this year’s Connecticut legislative session are among the top business news items this morning.

Please note: This will be our final daily roundup. We will begin posting a Week in Review starting this Friday, highlighting the top stories of the week.

National

Democratic lawmakers are in talks to craft a slimmer economic package along the lines of the Build Back Better Act, which lost a key vote in the divided Senate when Senator Joe Manchin said he would not support it. The effort comes soon after President Joe Biden said the agenda could potentially be split into separate bills, and is focused on issues such as child care, climate initiatives, and reducing health care costs.

A federal judge has blocked the White House’s COVID-19 vaccine mandate for federal employees, with the Justice Department saying it will appeal the ruling. The action comes shortly after the Supreme Court blocked the Biden administration’s effort to establish a vaccinate-or-test rule for businesses with 100 or more employees, but upheld a vaccine requirement for workers at health care facilities receiving federal funds.

Business trends

Persistent inflation is fueling a blame game over whether domestic policies or international forces are to blame. Economists speaking with the New York Times say international issues such as high demand on Asian factories and supply chain disruptions are leading to higher prices worldwide, price hikes in the United States are also being driven in part by policies such as stimulus payments that have driven up consumer buying.

Connecticut

Speaking at the Connecticut Business & Industry Association’s Economic Summit + Outlook, Governor Ned Lamont said that workforce development efforts to address labor shortages will be a top legislative priority this year. Lamont also said that property tax relief will be a major priority.

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