Vermont Income Tax More Comparable With Commission's Plan
01/14/11 12:08PM By Bob Kinzel, Ric Cengeri
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The Blue Ribbon Tax Commission just released its long-awaited report reforming the state's tax system. The panel wants to broaden the base of the income tax and the sales tax so tax rates can actually be reduced without increasing tax burdens.
House Ways and Means Chairwoman Janet Ancel says that the commission's recommendation to use adjusted gross income for calculating taxes is correct because right now Vermont is an outlier by using taxable income. This has made the state's income tax rates look artificially high.
Listen to Bob Kinzel's interview with Representative Ancel and Senate Finance Chairwoman Ann Cummings.