Joe Budd

Vice President at CBIA

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Articles

Latest Tariffs Add $3.2B to State's Import Costs " CBIA

1 week ago | cbia.com | Joe Budd

The Trump administration’s revised tariff policies will hike the cost of goods imported into Connecticut by at least $3.16 billion—a 14% increase over 2024. Imports from most countries now face 10% levies, after President Donald Trump’s April 9 announcement of a 90-day pause on the so-called reciprocal tariffs he imposed a week earlier.
Governor Renews Commitment to $300M Preschool Plan » CBIA

1 week ago | cbia.com | Joe Budd

Gov. Ned Lamont told a childcare forum April 8 he remains committed to funding an initial $300 million investment in a new universal preschool endowment, despite growing state budget challenges. Speaking at a roundtable discussion in Hartford with Lt. Governor Susan Bysiewicz, Office of Early Childhood Commissioner Beth Bye, legislators, and childcare leaders, the governor said the goal was to make childcare free for households earning less than $100,000 a year.
Data Privacy Law Expansion Raises Business Concerns » CBIA

1 week ago | cbia.com | Joe Budd

A legislative committee has advanced a sweeping expansion of the state’s Data Privacy Act that limits businesses’ ability to advertise, market, and conduct consumer-based research. The General Law Committee approved SB 1356, which adds additional businesses to the act’s scope, on a 16-5 vote.
Lawmakers Advance AI Regulatory Bills » CBIA

1 week ago | cbia.com | Joe Budd

Legislative committees passed a number of artificial intelligence bills this session that now await action in the House and Senate. The General Law Committee approved a revised version of SB 2, the most wide-ranging of the proposals introduced this year, on a 17-4 vote.
How to Reduce Prescription Drug Costs » CBIA

2 weeks ago | cbia.com | Joe Budd

Three prescription drug bills remain in play in the 2025 General Assembly session: SB 11, HB 6870, and HB 7192. Together, they have an array of provisions that target lower healthcare costs in general—and drug prices in particular. Unfortunately, most of the policies these bills put in place, especially the price control provisions, undermine new medicine R&D and innovation, and thereby have the unintended consequence of increasing healthcare costs over time.
Enhanced Permitting Predictability: A Win for Businesses » CBIA

2 weeks ago | cbia.com | Joe Budd

Legislation improving the speed and predictability of environmental permitting processes has drawn broad bipartisan support from state lawmakers. HB 6868 represents a significant step toward improving the overall efficiency, transparency, and predictability of the Department of Energy and Environmental Protection’s permitting processes. The Environment Committee approved the bill—which aligns with DEEP’s 20BY26 strategic initiative—on a 27-5 vote last month.
Report: Healthcare Cost Strategies 'Not Working' » CBIA

2 weeks ago | cbia.com | Joe Budd

Connecticut healthcare spending increased 7.8% in fiscal 2023, exceeding the cost growth benchmark for a third consecutive year. The annual targeted growth rate for 2023 was 2.9%, according to the Office of Health Strategy’s annual Cost Growth Benchmark Initiative Report, released March 31.
Executive Orders Impact, EEOC Employer DEI Program Guidance » CBIA

2 weeks ago | cbia.com | Joe Budd

The following article first appeared in the News & Insights section of Carmody Torrance Sandak Hennessey’s website. It is reposted here with permission. Shortly after taking office, President Trump issued several executive orders that impact employer-sponsored diversity, equity, and inclusion programs. The Equal Employment Opportunity Commission also stated that it is stepping up enforcement of illegal discrimination arising from DEI programs.
Administration Pushes Warehouse Productivity Restrictions » CBIA

2 weeks ago | cbia.com | Joe Budd

The Lamont administration is pushing an expansive bill restricting how large warehouse distribution centers monitor productivity and performance. Gov. Ned Lamont and Lt. Governor Susan Bysiewicz joined Teamsters officials at a New Haven press conference this week to urge lawmakers to approve the legislation.
Connecticut’s Housing Shortage Is an Economic Threat » CBIA

2 weeks ago | cbia.com | Joe Budd

The following opinion piece first appeared in Hearst Connecticut Media‘s newspapers. Last month, the CBIA Foundation hosted a housing roundtable that brought together employers, developers, and state leaders to confront a stark reality: our housing market is failing to meet the needs of Connecticut’s workforce, a failure that threatens our economic future.