CBIA Applauds Appropriations Committee Action on Unemployment Fund Debt

The state’s largest business organization today welcomed action by the legislature’s Appropriations Committee to address the unemployment fund debt crisis—applauding the $310 million that was allocated from the American Rescue Plan Act.

CBIA president and CEO Chris DiPentima noted, “This is a looming crisis and businesses in Connecticut would have been paying down this debt for many years to come—threatening jobs recovery and the state’s economic recovery.”  

CBIA’s Eric Gjede praised the leadership of the Appropriations Committee, “The business community truly appreciates the proposal put forward by Senator Osten and Representative Walker.

“If this proposal is enacted, it will take a huge weight off the shoulders of the business community, helping us emerge from this pandemic and get back to creating jobs.”

Connecticut would be the 25th state to use some federal stimulus dollars to help reduce unemployment debt.

Gjede noted, “We have seen in the last year how important the unemployment compensation trust fund is during a crisis.

“It is great to see so many lawmakers also realizing the significance of this program, and taking quick legislative action to provide relief.”

CBIA is Connecticut’s largest business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. For more information, please contact Joe Budd (860.244.1951).