Legislative Update - April 17, 2022
There was lots of action this week as the legislature heads into its final month of the session. The ethics bill passed the House unanimously this week and is now headed back to the Senate where we expect final approval before being sent to the Governor.
In a surprise turn of events, the House is now considering the pursuit of defined contribution plans for new hires. This has the potential to address the remaining $2.3B in unfunded liability that will remain in our public pension funds if S.286 passes (the bill currently only addresses about $2B of the $4.3B overall liability).
Workforce, housing, and economic development bills are all progressing towards final passage but there are concerns around "poison pills" added by environmental advocates that could draw a gubernatorial veto. All three of these bills are critical to addressing Vermont's short and long-term economic challenges.