Dear Chair Cummings and Members of the Senate Finance Committee,
Thank you for your ongoing work to address the trajectory of education spending through S.220. We urge the Committee to adopt enforceable mechanisms that align spending growth with the sustainable capacity of the Education Fund and provide immediate relief to Vermont property taxpayers.
Since the passage of Act 60 nearly thirty years ago, Vermont’s per-pupil education spending has grown at a rate nearly triple the national average. This expansion has also doubled the rate of inflation and, crucially, exceeded the growth of the consumption tax revenues that support the Education Fund. Because the Fund is self-leveling, any spending growth that surpasses organic revenue growth creates a deficit that is shifted onto property taxpayers.