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Business News Roundup, March 26, 2021

Plans for higher corporate taxes, a dip in consumer spending, Connecticut revenues, and actions of the Connecticut legislature are among the top business news items this morning. National Congressional Democrats are developing proposals that would make significant revisions to a…

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No Fooling: Connecticut Advances General COVID-19 Vaccine Eligibility to April 1

  • Connecticut advances general eligibility date for COVID-19 vaccines from April 5 to April 1
  • Those ages 16 and up who live or work in Connecticut will become eligible to schedule a vaccination appointment on that date
  • Move comes as a result of efficient vaccine distribution, but also as COVID-19 infections increase in the Northeast
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Connecticut Proposal Would Create “Baby Bonds” That Could Be Used to Start a Business Later On

  • Proposal in Connecticut legislature would establish a trust for low-income children to provide funds for certain purposes upon reaching adulthood, including investing in a business
  • Measure aims to address economic and race-based disparities in the state
  • Similar proposals have been floated at both the state and federal level
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Weekly Jobless Claims Fall to Lowest Point Since Start of COVID-19 Pandemic

  • Jobless claims reach lowest point since pandemic began, with 684,000 new claims filed last week
  • Claims remain well above pre-pandemic levels, with the labor market still missing millions of jobs lost due to COVID-19
  • Federal policies aim to accelerate a return to full employment
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Business News Roundup, March 25, 2021

The Treasury Secretary's appearance before a Senate committee, a White House commitment to COVID-19 vaccine distribution in higher risk communities, updated results for a COVID-19 vaccine candidate, and a projection on necessary wind expansion are among the top business news…

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SBA Increases COVID-19 EIDL Lending Limit to $500,000

  • U.S. Small Business Administration increases the Economic Injury Disaster Loan lending cap to $500,000 and economic injury period to 24 months
  • Decision follows calls to expand limits as COVID-19 pandemic persists longer than anticipated
  • SBA previous extended the deferment period for disaster loans until 2022
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Will Workplace Surveillance Measures Remain After a Return to the Office?

  • Employers were increasingly likely to use performance monitoring tools during remote work setups
  • A transition to post-pandemic hybrid work models will likely lead to the continuance of this type of monitoring
  • Caution is needed to ensure that any monitoring is legal and does not negatively affect employee trust
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Resolution Sought on Conflict Between PPP and Federal Acquisition Regulations

  • Clause in Federal Acquisition Regulations could result in small contractors owing a credit for loans forgiven through Paycheck Protection Program
  • Guidance issued shortly after PPP establishment to avoid double payments
  • Contractors argue that the rule is not equitable and results in considerable losses on multiyear contracts
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Companies Offer Freebies and Other Benefits For Customers With COVID-19 Vaccination Cards

  • Free donuts, restaurant discounts, and other promotions are being offered to customers who receive a COVID-19 vaccination
  • Businesses offer incentives as a way to encourage vaccination and a return to pre-pandemic conditions
  • To date, 17.6 percent of the U.S. adult population has been vaccinated
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Ahead of Two-Day Summit, Yelp Survey Finds Women Entrepreneurs Optimistic

  • Yelp releases survey results from women-owned businesses ahead of a two-day summit
  • Women entrepreneurs remain optimistic despite pandemic challenges and gender bias
  • Women in Business Summit taking place March 24-25
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