Raise state budget reserve from 5% to 8%, for tough times
It should be abundantly clear that the current reserve of 5% of our state budget is not adequate to withstand tough times. I call upon the legislature to join me in raising our reserves to 8% as soon as we return to better times.
Critics might also ask: why are we not raising taxes? Our top income tax rate is not 5%; it is nearly 9%. Our tax rates must remain competitive with other New England states to grow jobs.
Source: 2011 Vermont State of the State Address
, Jan 25, 2011