The slow economic recovery
means Vermont will take in $20 million less in revenue than was
anticipated. The news came the day before
Gov. Peter Shumlin delivers his annual budget address.
Despite a slow national
economic recovery, Vermont’s revenues are coming in on target with projections. But according to a state economist revenues aren’t expected to grow much either.
Steve Norton is
the director of the New Hampshire Center for Public Policy Studies. Norton told Senate budget
and tax writing committee members yesterday they will need to raise taxes and
get some help from the federal government.
State revenues are slumping and there are new pressures on the state budget.That means that another $60 million will need to be cut from this year’s budget.
Vermont’s tax
revenues continued their downward spiral last month; Three state highways
remain closed do to storms and flash floods;
Democrats criticize Republican energy policy efforts; Eco-Judaism topic
of Burlington conference;