FOR IMMEDIATE RELEASE – June 14, 2021 (updated 6/24/2021)

CONTACT:
BEN KINSLEY
(802) 310-3904
[email protected]

Campaign for Vermont (CFV) has long been an advocate for pension reform. After nearly a decade of obstinance, to our surprise, this year the legislature took the first steps towards meaningful action. While they passed on addressing benefits in the 2021 legislative session, they did set aside pre-funding for pensions and created a task force to look at benefits and bring back recommendations this Fall. We fully expect that the legislature will pass meaningful pension reform early in 2022 that balances our commitment to public employees and the liability for taxpayers. This is a critical balance to strike.

The House and Senate have closed the book on the 2021 legislative session. This ended up being one of the least controversial conclusions of a legislative session in recent memory. Conference committees wrapped up their work quickly, no major budget disputes erupted, and the Governor has only promised veto action on one bill. Speaking of vetoes, the legislature is coming back for a brief veto session on June 22nd where additional legislation may be taken up. However, this seems unlikely.

FOR IMMEDIATE RELEASE – May 13, 2021

Montpelier - In response to a lack of comprehensive long-term planning on behalf of state leaders around economic recovery from the Covid-19 Pandemic, today Campaign for Vermont (CFV) releases a roadmap forward. “We were just frustrated,” said CFV Chairman Pat McDonald, “the legislature had lots of work being done all over the place but no overarching plan to tie it all together.”

We are excited to be able to share the third and final phase of our economic recovery plan from Covid-19. Please consider supporting our efforts in the legislature to move forward these and other ideas. If you missed previous parts of the plan, you can find them here.

Phase 3 – The Long Game. It’s not enough to have a thriving tourism industry and universal broadband access in our state. Tourism is important, but most of its jobs are low-wage with limited growth opportunity. Broadband is an important for a whole host of reasons, but it won’t solve all of our problems.

We are getting close to the end of the legislative session. Many major bills have now been passed by both chambers. Some of which we are excited about, some of which could be better. Pension reform and student weighting factors are headed for summer study committees. Economic development and broadband were stripped of key components that would generate both short and long-term success. The Ethics Commission will get the additional staff it needs, but a comprehensive code of ethics will wait until next year. It's a mixed bag.

The major event this week was the House killing the project-based TIFs. CFV also sent a letter to the Senate Government Operations Committee on the pension bill this week and released Phase 2 of our economic recovery plan.

Senate Government Operations Committee

Dear Madame Chair and Committee Members,

Campaign for Vermont Prosperity (CFV) has been following the Pension Liability issue throughout this legislative session and has weighed in from time to time.   Before we comment further on H.449 we would like to recognize the work that the House and Senate Government Operations Committee, the Treasurer and so many others have done to bring the attention due to this critical issue. The comments below are reflective of the “Draft – As Amended After Second Reading 2021” document.

We are excited to be able to share the second phase of our economic recovery plan from Covid-19. Please consider supporting our efforts in the legislature to move forward these and other ideas. If you missed our introduction or Phase 1 of this plan, you can find them here.

Phase 2 – The Courtship. There is little doubt that Covid-19 has changed our world for good. One of the most meaningful ways is how we work. Many employers have discovered the benefits and limitations of remote work. Major corporations like Microsoft, Google, Facebook, Twitter and Spotify have gone remote. Salesforce even went as far as to declare that the 9-5 workday was dead. Office buildings in downtown San Francisco and Manhattan are now empty. What’s more, the majority of workers prefer to continue working remotely even after restrictions are lifted. Experts are predicting that 25-30% of the US workforce will still be working from home, at least part-time, at the end of 2021.[1]

There is little doubt that Covid-19 has changed our world for good. One of the most meaningful ways is how we work. Many employers have discovered the benefits and limitations of remote work. This presents a massive opportunity for Vermont. We are within the drive market of multiple major metropolitan areas, we have an international airport, and our quality of life was ranked #2 (behind Hawaii) by CNBC in 2019.[2] This allows workers the flexibility to live a rural lifestyle but have relatively easy access to international travel or corporate offices should the need arise.

We are excited to be able to share the first phase of our economic recovery plan from Covid-19. Please consider supporting our efforts in the legislature to move forward these and other ideas. If you missed our introduction to this plan, you can find it here.