The purchase of hundreds of millions of COVID-19 vaccines, projected deficit expansion, environmental and social good funds, and assistance for seaweed entrepreneurs are among the top business items this morning.
National
President Joe Biden has announced that his administration has signed deals to purchase 200 million more doses of COVID-19 vaccine, bringing the total number of U.S. doses to 600 million. This would be enough to fully vaccinate 300 million people, which Biden says could be completed by the end of July.
The Congressional Budget Office is projecting that federal debt, which reached 100 percent of GDP in the past fiscal year, will rise to 107 percent of GDP by 2031. The wider deficits are expected as a result of the impact of the COVID-19 pandemic, including spending to provide relief to businesses and individuals.
Business trends
Funds aiming to support environmental and social good initiatives saw a major boost in 2020, earning a net $51.1 billion of new investment money. These funds are reportedly gaining more popularity among younger investors, who are placing greater importance on issues such as climate change and social justice.
Connecticut
The Connecticut Sea Grant will undertake a three-year effort to help promote the growth of seaweed aquaculture, with support from a $766,650 federal grant. The program will provide business planning support, capital access, and other assistance to new and existing kelp farmers.
