New Taxes to Ease VT Budget Gap Unlikely

From VPR: 

More than 100 lawmakers came to the Statehouse on Wednesday to get a detailed briefing about the state’s budget situation. Because a number of tax sources are not meeting projections, including the personal income tax, the state is now facing a $100 million gap in the next fiscal year.

Administration Secretary Jeb Spaulding told the group that simply addressing this problem with new revenue represents a one-time solution to an ongoing problem.

That’s why Spaulding says the administration will try to present a budget that doesn’t include any tax increases. Instead, the plan will reduce the growth rate in state spending.

For the full article please visit:  http://digital.vpr.net/post/new-taxes-ease-states-100-million-budget-gap-unlikely?utm_source=VBM+Mailing+List&utm_campaign=40fc3cec5e-Enews_11_20_2014&utm_medium=email&utm_term=0_85838110bc-40fc3cec5e-286301905

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