By Charles Ferraro
State Rep., R-117
Charles Ferraro
To simply brand the last couple of weeks in our state and nation “unprecedented” would be a gross understatement, and I’m not sure there’s a single word that captures the far-reaching strains caused by the coronavirus outbreak.
It’s claimed lives and instilled fear, upending our collective daily routines that keep society moving forward. For many, this new and stressful reality is marked by fiscal instability.
More than 220,000 unemployment claims have been filed since the second week of March, compared to the 180,000 filed in all of 2019. The state’s Department of Labor, hampered by antiquated technology, has struggled to keep up. Paying for the basics of life – rent, auto payments, groceries, school tuition – is a sudden challenge. Entrepreneurs, feeling the effects of decreased foot traffic or well-intentioned orders to close temporarily, fret for the future of the businesses into which they’ve poured their heart, soul and money. As a small business owner myself, I fully empathize with my fellow business owners as we struggle to communicate and maintain a connection with our customers.
My statehouse colleagues and I have worked to help our constituents find answers to questions in this shifting landscape, and legislative leaders have stayed in touch with Gov. Lamont as his administration formed the state’s response to this crisis.
Outbreak prevention aside, a $25 million emergency loan program for small businesses has been the most substantial action to help our state’s already-fragile economy. The tremendous interest in those zero-interest loans underscores the seriousness of what’s happening: state economic development officials received about 4,000 applications in one day, forcing them to suspend the program and add another $25 million to its coffers. Federal help has been announced, but time and red tape are concerns.
Wall Street analysts fear a $15 billion contraction in economic activity in Connecticut.
Clearly, we’ll need to do more.
The legislature has, for all intents and purposes, been dormant since this crisis gripped our state. Businesses and their employees have worked to adjust to social distancing. Video and audio conferences are the new norm. It’s my hope that the General Assembly will follow suit soon to restart the people’s business, to play our role in maintaining stability. It’s critical that we do so.
This 2020 legislative session was scheduled to end May 6. Of course, the outbreak threw a wrench into the matrix of rules and deadlines that guide our work. Consequently, many lawmakers have seen legislation that’s important to them and their constituents collapse under the weight of uncertainty.
At the end of March, I joined my colleagues from the House Republican caucus in submitting a list of initial response proposals to Lamont, including one to reduce the penalty charged to property taxpayers if they pay their bill late. You can see them at repferraro.com.
When my colleagues and I get back together, either by technological means or in-person, I expect we’ll find common ground in pursuing a broad range of solutions aimed at helping business owners and their employees cope in both the short and long terms. Our state, and its residents, depend on it.