The United States nears 100 million COVID-19 vaccine doses, economic activity picks up, caution urged in a tax filing deadline delay, and business groups opposing a plan to replenish Connecticut’s unemployment fund are among the top business news items this morning.
National
President Joe Biden announced that the U.S. is on track to administer its 100 millionth COVID-19 vaccine today. This would achieve Biden’s goal of 100 million doses in his first 100 days in office a full 42 days ahead of schedule, and Biden said he will announce a new vaccination goal next week.
Economists have identified several signs of positive economic growth including more activity in restaurants, increased hotel and airline bookings, and more spending on personal services. The trend was credited to ongoing vaccinations, easing business restrictions, consumers drawing on increased savings to meet pent-up demand, and an injection of federal stimulus funds.
Connecticut
Connecticut has extended its deadline for filing state taxes to May 17 after the Internal Revenue Service extended the deadline on federal tax filing to this date. The Connecticut Department of Revenue Services says the extension allows residents to account for provisions in the American Rescue Plan that might affect tax filing.
Some business groups have expressed opposition to a proposal that would require larger employers in Connecticut to contribute more money to replenishing the state’s unemployment trust fund. The groups argue that the proposal would not address underlying problems with the unemployment system and would result in a major increase to Connecticut’s taxable wage base.
