The National Federation of Independent Business (NFIB) has expressed approval following Governor Ned Lamont’s announcement regarding the repayment of a $1.2 billion Trust Fund loan. This loan was initially utilized to cover nearly $11 billion in unemployment payments during the pandemic.
Andy Markowski, NFIB State Director in Connecticut, stated, “Gov. Lamont’s announcement today is welcome news for Connecticut’s small businesses.” He further noted that NFIB had strongly advocated for the use of federal pandemic relief funds for this purpose and expressed appreciation for the governor’s leadership and legislative prioritization.
Markowski highlighted the benefits of this financial move, saying, “This is good news for employers, demonstrates fiscal prudence, and puts the Trust Fund balance into a good place to prevent future burdens on employers.” The retirement of the Trust Fund’s pandemic debt ensures that small businesses will not face an increase in federal unemployment taxes starting January 1st.
For 80 years, NFIB has been dedicated to advocating for small and independent business owners across America. The organization remains nonprofit, nonpartisan, and member-driven since its founding in 1943.
