Op-Ed: This is Not a Time for Politics as Usual, by Toni Boucher

"This is Not a Time for Politics as Usual,"

by Toni Boucher, March 16, 2020

Uncertainty is gripping the nation and its financial markets. Life as we know it is temporarily grinding to a halt. "Americans should be prepared… to have to hunker down significantly more than we as a country are doing," says Dr. Fauci, Director of the National Institute of Allergy and Infectious Diseases.

To slow the spread of the COVID- 19 virus large businesses are implementing work from home policies and states are closing school systems. We are advised to wash hands regularly, keep our distance, and stay informed and vigilant.

We have faced down SARS, Avian Flu and Ebola. Why is this time different?

Dr. Lipsitch, Harvard's Director of the Center for Communicable Disease explains: "New viruses have a temporary but important advantage – few or no individuals in the population are immune to them. Old viruses, which have been in the population for longer, operate on a thinner margin — most individuals are immune, and they…transmit among the few who aren’t." The concern is that over 80 percent of those who contract the virus may have little or no symptoms, making it easy to spread and difficult to identify and contain. Medical systems can be overwhelmed.

Countering the rapid spread of disease, however, is our ability to communicate and respond quickly. Brilliant researchers are working relentlessly on finding a cure. Their ability to share data, resources, protocols and discoveries is only a click away. So where are we with a vaccine? Dr. Murray, Harvard’s Infectious Disease specialist is optimistic. "Vaccine development has proceeded at an unprecedented pace. A number of companies and research teams already have candidate vaccines that are either ready or close to ready to trial in humans."

Previous crises were financial or political in nature. This invisible enemy's reach is widespread and its impact is still unfolding. The uncertainty of its duration leaves our financial systems and businesses scrambling to adjust.

The one thing the financial markets do not like is uncertainty. This has made 2000-point swings on Wall Street commonplace, prompting the Federal Reserve to cut rates, temporarily shut down the market, and buy bonds.

Restaurants, retailers, hotels, airlines, cruise lines, travel agencies, malls, museums, concert halls, movie theaters, and so many others are hard hit from mandatory social distancing, travel restrictions, and work and school closures. Many companies and schools are adapting by allowing teleconferencing/home computers for work and learning.

What can state government do? Years of anti-growth policies and unfunded liabilities have placed Connecticut in a precarious financial position and may quickly drain the Rainy Fund.

As the pandemic evolves, state leaders need to act. They should immediately assess any previously enacted legislation that negatively impacts residents and businesses. Tolls, grocery taxes, new payroll taxes and other anti-consumer legislation should be completely off the table.

Government actions should include state cost reductions. The administration should re-negotiate state union contracts. Lavish benefits should be brought in line with those of the private sector. Eleven percent wage increases should be rescinded. Connecticut’s unfunded pensions needed to be restructured even before the market collapse. Now it should be mandatory.

Businesses need all the help they can get to keep the economy afloat.

• Suspend sales taxes for a period
• Remove state fees on electric, utility, gas and phone bills
• Provide free or low interest business loans
• Rescind or delay implementation of the minimum wage increase
• Extend state income tax payment deadlines
• Waive state permit and agency fees
• Extend unemployment insurance
• Rescind the 10 percent corporate profit tax.

Hartford must stop efforts to create government run pensions, insurance and healthcare that would further disrupt the private sectors. They need government support, not takeovers. One possible exception could be the creation of a state business continuity insurance fund for small businesses, like restaurants, that are being forced to shut down. The state should also require all private business interruption insurance policies to treat this period as a covered event.

Americans are helpful, generous and compassionate people. They always come through when needed. We thank our truckers delivering critical goods, manufacturers producing much needed products, first responders, and the medical community who are on the front lines in delivering vital services. Politics has no place here. We are all in it together and together we will overcome this and be stronger for it.

Useful links:

• CT Department of labor, dol.webhelp@ct.gov; www.filectus.com
• SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov

Toni Boucher is a resident of Wilton, Connecticut businesswoman and former state senator and state representative.