We need to quit robbing Peter to pay Paul, because I think we can all see the writing on the wall. We’re looking at higher taxes to refill these gaps.
Vermont, facing a $250 million shortfall in General Fund revenues for the fiscal year that starts a month from now, will have to rethink what it is and what it does. To undertake that task intelligently we must bravely launch a thorough-going performance review.
The Vermont-NEA members have been hurt less financially than any other large group of employees so far. Let them not claim abuse if they are asked to give a little. After all, it is for the good of the kids.
The Scott administration wants all state agency and department heads to consider an 8% budget cut to eliminate the state’s looming 2021 $400 million budget deficit, Administration Secretary Suzanne Young confirmed at a press conference today.
Can the Vermont Legislature cut its way out of a looming $400 million budget deficit in next year’s budget? Senate President Pro Tem Tim Ashe thinks not.
April is the first full month of revenue collections since a state of emergency was declared by Gov. Scott, and the subsequent mitigation “Stay Home Stay Safe” order was issued on March 24. April revenues collected were predictably and dramatically under the consensus forecast for the month.
During the first month of the pandemic, Congress scrambled to pass multiple aid packages aimed at helping states and individuals prepare for and respond to the crisis. But whether that will be enough to meet Vermonters’ needs is anyone’s guess.
Activists and policymakers on the left are trying again to grab Americans’ tax dollars to bail out state and local governments from their own poor budget choices, this time using the COVID-19 pandemic as an excuse.
Under the pre-coronavirus CBO baseline, federal debt held by the public had been expected to rise from $16.8 trillion in 2019 to $31.3 trillion by 2030, or 79 percent of GDP to 98 percent. According to Edwards’ calculation, debt will rise to $37.2 trillion by 2030 or 116 percent of GDP.
Vermont’s 2020 state budget was $6 billion. So, if we are determined to keep the same level of services and programs in 2021, how can we do it given the projected loss of $596 million in revenues?
Many Vermonters have been wondering how towns that voted down school budgets, or had votes scheduled before social-distancing was required, will set their budgets for the coming year.