State treasurers call for relief to state and city governments to be included in a proposed economic stimulus bill, and a Connecticut representative says the state would be in line for more than $4 billion if this occurs. Jobless claims remain persistently high amid ongoing layoffs and business struggles during the COVID-19 pandemic. And a major shipping company is planning to debut a carbon-neutral vessel well ahead of schedule.
National
A group of 17 Democratic elected state treasurers is asking Congress to approve $350 billion in state and local aid in the Biden administration’s proposed American Rescue Plan. Congressional Republicans have largely opposed funding for state and local governments, but the treasurers attest that the money is necessary to preserve public sector jobs and support COVID-19 vaccination efforts.
New U.S. jobless claims rose to 861,000 last week, well above economists’ projections and a sign of ongoing challenges in the labor market. Continuing claims stood at 4.5 million for the week ending Feb. 6, while approximately 18 million people were receiving some sort of unemployment benefit at the end of January.
Business trends
The shipping company Maersk has announced plans to launch a carbon-neutral container ship by 2023, seven years earlier than expected. The firm is attempting to achieve net-zero carbon emissions by 2050, and will introduce a vessel that is powered by either e-methanol or bio-methanol.
Connecticut
Connecticut would receive more than $4 billion in federal funding under the proposed American Rescue Plan, Rep. Joe Courtney said recently. Courtney, who represents much of eastern Connecticut, said $2.7 billion would go to the state while $1.6 billion would go to cities and towns.
