A choice of court for a decision on the COVID-19 vaccine mandate, a new deadline on the debt ceiling, stronger retail sales, and a retreat from a controversial emissions control program in Connecticut are among the top business news items this morning.
The United States Court of Appeals for the Sixth Circuit has been selected at random to hear arguments on a consolidated collection of more than two dozen lawsuits brought against the Occupational Health and Safety Administration’s COVID-19 vaccine mandate for employers with 100 or more workers. This body will make a decision on whether the mandate should be allowed to stand, though the result is likely to be appealed to the Supreme Court.
Treasury Secretary Janet Yellen is again sounding the alarm about the debt ceiling, saying the U.S. could run out of money to pay its bills by Dec. 15 if the limit is not raised or removed. A short-term extension was approved in October following warnings of the economic repercussions that could result if the issue was not resolved.
Retail sales climbed 1.7 percent in October, jumping from a gain of 0.8 percent in September. Online shopping had the strongest monthly gain, while higher gas prices led to gasoline sales soaring 46.8 percent compared to the previous year.
Governor Ned Lamont is abandoning his push to have Connecticut join the Transportation and Climate Initiative, a partnership among multiple states aimed at capping carbon emissions by having gas suppliers purchase carbon credits. The move would have likely resulted in a modest increase to gas prices, and Lamont said now is not the time to pursue the initiative since gas prices have climbed considerably.