A temporary end to negotiations on a federal infrastructure bill, record high job openings, how an oil company pivoted to be a renewable leader, an advance in the Connecticut budget, and a highway mileage tax for commercial trucks are among the top business news items this morning.
National
President Joe Biden has ended talks with Republican senators seeking to reach a compromise on the White House’s sweeping infrastructure proposal, but is also moving to establish a new bipartisan group on the matter. The administration is hoping to get an infrastructure bill passed this summer.
Job openings have hit a record high of 9.3 million positions in the United States, according to Labor Department data. Despite the high number of available jobs, hiring has been sluggish due to a number of factors, including skills gaps and potential employees coping with child care necessities.
Business trends
The Wall Street Journal has published a profile of Ørsted and its successful pivot from the oil and gas industry to a leading developer in offshore wind. Several other European oil companies have also signaled a commitment to increase the share of renewable energy in their portfolios.
Connecticut
The Connecticut House of Representatives has approved a $46.4 billion two-year state budget with no major tax hikes in a 116-31 vote. Federal relief money is being used to balance the budget rather than the state’s rainy day fund, and the budget expands funding and tax relief for purposes such as municipal aid, nonprofits, and restaurants.
The Connecticut General Assembly has approved a highway usage tax for large commercial trucks in a 22-14 vote. The measure charges fees based on miles driven and truck weight, and is anticipated to raise approximately $90 million a year toward infrastructure projects in Connecticut.
