A debt ceiling showdown, sanctions against a virtual currency exchange, potential infrastructure improvements in Connecticut, and an impending vaccination deadline for a Connecticut health care system are among the top business news items this morning.
The House of Representatives has voted to increase the debt ceiling through 2022 as part of a spending bill, inviting a showdown with Senate Republicans who say they will block the measure. The conflict over the debt ceiling has raised concerns that the federal government might default on its debt if the limit is not raised, while failure to agree on the spending measure would result in a government shutdown.
The Treasury Department’s Office of Foreign Assets Controls has imposed sanctions against the virtual currency exchange SUEX for facilitating transactions with illicit actors. The action comes in response to a sharp increase in ransomware attacks that have caused significant losses at American businesses.
Governor Ned Lamont is likely to renew focus on infrastructure improvements in Connecticut, as the state stands to receive $5.38 billion in federal funding over the course of five years if a major infrastructure bill passes Congress. Lamont has proposed infrastructure improvements that include moving the state to a carbon-free electricity by 2040.
Yale New Haven Health expects that some of its employees will be terminated for refusing to get vaccinated against COVID-19, as approximately 700 workers still have not received a dose with a Sept. 30 deadline approaching. The vast majority of the system’s roughly 29,000 employees are vaccinated.