State Budgeting - $130 Million Short for upcoming budget year

Date: February 11, 2015

Related Content: Issues Economy Vermont

Due to unexpectedly low revenues, Gov. Shumlin and the Legislature
will need to come up with $130 million in cuts, increased taxes or a
combination of the two in order to balance this year’s budget.  Politicians have continued to support and
pass state government budgets with increases five times higher than the growth
of Vermont’s economy (1.1%).  Vermont
FY2015 budget represents a 5.5% increase ($88 million) over the FY 2014 budget.
This budget also nearly doubled the average rated of personal income growth
(2.88% for 2013).

 

Related Content: Issues | Economy | Vermont

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