Tax Revenue Slump Leads to Lowered Projections

From Vermont Business Magazine:

State economists presented a more somber report on projected tax revenues forecasts for the state of Vermont on Thursday and projected that revenues will be 1.8 percent lower going forward than anticipated last January for the fiscal 2015 (current) and 2016 years. Tom Kavet, for the Legislative, and Jeff Carr, for the Administration, restated for the Emergency Board what everyone already seemed to know: The recovery from the Great Recession has slowed, which has resulted, along with some technical changes, in a lowering of tax revenue expectations of $28.8 million for the current fiscal year, which started July 1, and $25.7 million for next year.

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