White House concessions in infrastructure negotiations, a warning to businesses to improve their cybersecurity, a commitment to waste reduction in the offshore wind industry, and the expansion of a Connecticut youth employment program are among the top business news items this morning.
National
President Joe Biden has made several concessions in his efforts to strike a deal with Republicans on an infrastructure package. Biden has reduced his initial $2.3 trillion by more than $1 trillion and abandoned an attempt to raise the corporate tax rate, instead seeking to secure the necessary funding through methods such as closing certain business tax loopholes and establishing a minimum tax on some major companies.
With recent ransomware attacks creating disruptions in several key industries, the White House issued a warning that businesses in the United States should improve their cybersecurity to address this threat. Companies are being urged to take steps such as using multi-factor authentication, regularly back up data, and hire an expert to test their systems for vulnerabilities.
Business trends
Orsted, the largest offshore wind developer in the world, has made a commitment to recycle, reuse, or recover all of its turbine blades following their decommissioning. The question of how to reduce or eliminate waste in the wind industry has gained importance as offshore developments ramp up.
Connecticut
Governor Ned Lamont has announced an expansion of the Connecticut Youth Employment Program, which provides work opportunities for the state’s younger population. The program is receiving an additional $2 million through federal COVID-19 relief funds, and the funds will be used for transportation, food support, and other services designed to lower potential barriers to entry.
