The State of Vermont is facing a deep budget deficit due to the global pandemic. The Vermont Futures Project presents a white paper, Vermont’s Taxing Dilemma, to look beyond Vermont’s immediate circumstances to understand how our current taxation structures can either drive or inhibit long-term economic recovery and growth. Since its inception four years ago, The Vermont Futures Project has closely monitored Vermont’s modest economic rebound as it slowly recovered from the 2008 recession. Today, with the onset of COVID-19, Vermont has seen a significant drop in state revenues, further challenging the state’s future economic security.
Now more than ever is the time to refrain from burdening our economy in ways that will short-change our future. Growing Vermont’s future tax base, and not just the current tax rates, must be foremost in our dialog and actions. We welcome you to join us in this conversation!