Peter Shumlin on Tax Reform

	Peter Shumlin on Tax Reform

Avoid raising taxes; balance budget by cuts & efficiencies

Gov. Peter Shumlin, House Speaker Shap Smith, and key legislative leaders today announced an agreement to avoid raising taxes on Vermonters, and instead focus on spending cuts and efficiencies to achieve a balanced budget for the state.

"We have an agreement among leadership that will allow for a timely adjournment of this session--an agreement that is right for Vermonters now," the Governor said. "Balancing our budget this session with no additional taxes will help keep our state on a strong path of economic recovery."

Said Speaker Smith, "I am confident that we can achieve our goals within the current revenues." Members of the House and Senate Appropriations Committees will focus on reducing state spending by about $10 million through cuts and efficiencies, eliminating the need for any additional tax increases.

Source: 2016-related Vermont Gubernatorial press release , May 7, 2013

Eliminate loopholes, pass progressive taxes

I applaud President Obama's balanced deficit reduction plan & urge Congress to take action on it immediately. As the President has said, when everyone pays his or her fair share, we can live within our means while making smart investments in our future. I strongly support eliminating loopholes that allow millionaires and billionaires to pay a smaller percentage of their income to taxes than middle class families. This plan pays for the President's jobs agenda while also cutting the deficit. Source: 2011 gubernatorial press release, "Obama Budget" , Sep 19, 2011

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

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Page last updated: Feb 21, 2017