After initially looking like it would be a tame week in the Legislature, it certainly didn't turn out that way... A real lamb to lion situation.
This week the Legislature turned its attention to two questions that will shape Vermont's fiscal future for years to come: who pays, and how much? House Ways & Means spent the better part of three days dissecting proposals to restructure Vermont's income tax brackets and create a new investment income surtax, while simultaneously wrestling with what to do with the revenue: cut middle-class taxes or stand up a state-run health care premium assistance program to replace expired federal subsidies. Meanwhile, a sobering demographic briefing from the Joint Fiscal Office reminded the Committee that the population trends underlying all of these revenue assumptions are heading in the wrong direction.
Also this week... a key House Committee endorsed repealing significant sections of Act 181, the Senate put forward a significantly different approach to this year's property tax bill, and the Ethics Commission's budget request gets gutted right as they are being asked to do more.
Let's dig in.