By Brent Addleman | The Center Square
Placing an emphasized focus on the fundamentals of the state’s finances was the message Vermont’s governor gave during his weekly press conference.
Republican Gov. Phil Scott said Wednesday the impact of every decision the state makes moving forward will have an impact on state residents who need the most help amid an influx of federal funding received through the COVID-19 pandemic era.
“The budget we presented to the Legislature in January prioritizes low- and moderate-income Vermonters with tax relief, historic child care subsidies, increased dental care, permanent homes for the homeless, more housing for middle-income families, upgrades to water and sewer, and mobile home parks,” Scott said. “Weatherizing homes, funding for career training, and much, much more. Next, we focus on revitalizing communities.”
Scott said the state’s plan encompasses bringing people back to rural parts of the state; cleaning up contaminated industrial sites; focusing on small business development; housing; and growing the workforce. He said all are keys to helping the state thrive.
“We also made sure there was state money to leverage federal funding for the next three to four years,” Scott said, “so we can help communities by upgrading roads, bridges, water, sewer, stormwater, and more.”
However, Scott pointed to the budget emanating from the House of Representatives through the Appropriation Committee currently features cuts to “every single initiative” of the discussions.
“Not only that, but they also increase the state general fund budget over the last year by 12%,” Scott said, emphasizing the 12% figure. “They did that by spending over $60 million more than I propose in ongoing base expenditures.”
In doing so, Scott said, pressure has been placed on future budgets as the current proposed budget would only pay for one-third of the start-up costs for the Family Leave Plan and would leave “$74 million unfunded over the next few years.”
“I think what they’re banking on or hoping,” Scott said, is that “these unprecedented fiscal times, fueled by federal dollars and state surpluses, will continue. When in fact their own economist says the opposite is true. And it’s not just the startup cost for their generous new programs. It’s ongoing money from tax increases for the benefits that come along with it.”
Scott said there was “very real financial harm to Vermonters” that is caused by the Clean Heat Standard. The House of Representatives has yet to take up discussions on the bill, he said.
“Three initiatives alone could add half a billion dollars in costs to Vermonters every single year,” the governor said.
The Family Leave Plan, Scott said, was bargained for with state employees. The goal of the program, he said, is to extend the program to businesses and individuals “over the next few years.”
Scott said he also proposed $56 million in the budget to increase child care subsidies without raising taxes and fees “at a time when economic anxiety and inflation is already high.”
“To put it simply, we can achieve our shared goals,” Scott said of the budget, “without putting us on an unsustainable economic path. I believe one of the reasons I was elected was to bring the balance, common sense, and pragmatism to the table.”
2 thoughts on “Scott fearful of future budgets amid proposed state spending in the Legislature”
Dem/Progs are always looking to conjure up “needs” and looking for extra money to spend on government programs, to build up their political, economic, social, cultural hold over Vermont.
Almost everything they do is spend, spend, spend.
Tax the rich
Bleed the middle class
Hit up the federal government
Add to debt
It does not matter what it takes.
They are hopelessly addicted.
Overall Tax Burden in New Hampshire
Most people are concerned about taxes. When you move to New Hampshire, you’ll be living in one of the lowest taxed states in the country!
In 2021, Wallet Hub ranked NH #1 in taxpayer Return on Investment.
They also ranked NH #2 in lowest taxes paid per capita.
The Granite State’s low tax burden is a result of:
No income tax
No sales tax
No capital gains tax
No inheritance or estate taxes
No tax on IRA and other pension plan withdrawals/distributions
No tax on Social Security payments
New Hampshire does collect:
Property taxes that vary by town
Auto registration fees
A 9% rooms and meals tax (also on rental cars)
A 5% tax on dividends and interest with a $2,400/$4,800 exemption plus additional exemptions
Taxes on the self-employed above a certain threshold (by 2021, the business profits tax will be 7.5% and the business enterprise tax will be .5%)
About Property Taxes
The ability to choose one’s property tax rate makes New Hampshire an appealing option for those who value low taxes.
Though New Hampshire ranks #2 in per capita property taxes, tax rates and assessed values vary greatly from town to town.
The median tax amount paid in rural areas can be quite low.
Those who are willing to commute farther to work and those who don’t need to commute can lower their overall tax burden significantly by shopping for low-tax towns.
Low-tax towns include Berlin, Croydon, Hebron, Holderness, Moultonborough, Newington and Tuftonboro.
New Hampshire Property Tax Median Amounts
Low New Hampshire Taxes Result in a Thriving Economy
New Hampshire’s robust economy boasts the 3rd lowest unemployment rate in the country (as of March 2019).
The state ranks #6 in the State Business Tax Climate Index for 2019, with no tax on machinery, equipment, or inventory.
The combination of a high median household income (ranked #6 in 2018) and low individual tax burden creates conditions for residents to thrive.
Consequently, New Hampshire has the lowest percentage of residents and children living in poverty.
New Hampshire residents rank #1 in financial literacy.
The state boasts the highest per-capita Bitcoin usage, with an active cryptocurrency economy and the longest running crypto meeting in the world.
A 2017 law exempts digital currency traders from the state’s money transmission regulations.
The liberals here are taxing us without representing us. We need to remove them. They have destroyed Vermont and if they prevail there will be no coming back. All of them received a lot of phone calls and emails urging them to vote no on the unaffordable heat act but they voted for it anyway. Some of them are going to get rich because of it and the others voted for it because it fits the liberals narrative. The grid can’t handle the inefficient electrification of heat and cars. What happens when the electricity fails? These idiots are running all of us off of a cliff with no turning back.
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