Joe Budd

Vice President at CBIA

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Articles

Lamont Signs Puerto Rico Trade Commission Bill » CBIA

2 weeks ago | cbia.com | Joe Budd

Gov. Ned Lamont has signed legislation designed to grow trade and businesses relationships between Connecticut and Puerto Rico. HB 5008, which originated in the Commerce Committee, passed both the House and Senate unanimously and was co-sponsored by a bipartisan group of legislators. The commission will consist of 23 appointments from the Governor, House and Senate leadership, and representation from Puerto Rico, a chamber of commerce, and a public institution of higher education.
Federal Court Partially Blocks DEI Executive Orders Enforcement » CBIA

2 weeks ago | cbia.com | Joe Budd

The following article first appeared in the News & Analysis section of Littler Mendelson’s website. It is reposted here with permission. On June 9, 2025, the U.S. District Court for the Northern District of California issued a ruling in San Francisco AIDS Foundation v. Trump, temporarily blocking the enforcement of several provisions in executive orders issued earlier this year by President Trump.
How to Create an AI Foundation for Your Benefits Strategy » CBIA

2 weeks ago | cbia.com | Joe Budd

The following article was first posted in the Insights section of Mercer’s website. It is reposted here with permission. Employers want to use artificial intelligence-driven analytics to drive up benefits engagement but need the right foundation in place to generate these insights. One in two employers believe that acting on analytical insights will lead to improved employee performance and engagement.
General Assembly Wrap Up: Expansion of Leave Laws » CBIA

2 weeks ago | cbia.com | Joe Budd

The following article was first published on Shipman & Goodwin attorney Dan Schwartz’ Connecticut Employment Law Blog. It is reposted here with permission. With the General Assembly wrapping up its session this month, it’s time to take a look at a few of the laws that have passed. The biggest set of changes impact a smaller subset group of employers (both public and private schools but some municipal positions too) but represent an expansion of the state’s leave laws.
Steel, Aluminum Tariff Hikes Will Cost State $250M » CBIA

2 weeks ago | cbia.com | Joe Budd

The Trump administration’s doubling of tariffs on steel and aluminum imports will cost Connecticut another $250 million annually. Tariffs on all steel and aluminum imports except those from the United Kingdom rose to 50% from June 4, up from the 25% imposed March 12. U.K. imports remain subject to the 25% tax, with possible changes or quotas starting July 9, 2025, depending on the status of current U.S. trade negotiations with that country.
Expansive Consumer Protection Bill Clears Legislature » CBIA

3 weeks ago | cbia.com | Joe Budd

SB 3, an expansive consumer protection bill, received final approval from the House of Representatives May 29 and now awaits action by Gov. Ned Lamont. The bill concludes a multiyear effort by proponents to adopt total price disclosures for products and services and right-to-repair regulations on consumer goods.
Inside the $55.8B State Budget » CBIA

3 weeks ago | cbia.com | Joe Budd

The $55.8 billion budget adopted this week by the state legislature uses fiscal guardrail workarounds and business tax hikes to increase state spending by $2.6 billion over the next two years. The budget features $357.6 million in business tax hikes through changes to the unitary tax, the extension of the so-called temporary corporate tax surcharge, and alterations to net operating loss carry forwards. It boosts spending approximately $700 million over the budget Gov.
AI Regulatory Measure Fails » CBIA

3 weeks ago | cbia.com | Joe Budd

The multiyear effort for Connecticut to be one of the first states in the country to regulate the business use of artificial intelligence has once again failed. SB 2, the omnibus artificial intelligence bill, was not acted upon by the state House of Representatives prior to the legislature’s June 4 deadline.
Amended Data Privacy Expansion Adopted » CBIA

3 weeks ago | cbia.com | Joe Budd

An expansion of the Connecticut Data Privacy Act cleared both chambers of the state legislature, but not before key sections were amended to limit the impact on small businesses and many industry sectors. SB 1295 became an omnibus consumer protection bill in the final days of the legislative session. The amended bill addressed broadband access, online gaming, social media, and subscription renewals.
Legislative Session: Near Misses, Notable Successes for Bioscience » CBIA

3 weeks ago | cbia.com | Joe Budd

From the perspective of the biopharma sector, the 2025 General Assembly session was fraught with many near misses and some notable successes. At its peak in February, the Bioscience Growth Council was monitoring and weighing in on over 130 bills. At the close of session there were still 29 bills in play. Perhaps the most consequential win was an increase in the “refundable” research and development tax credit, which was included in the new two-year state budget adopted by the legislature.