House Speaker Gaye Symington says Vermonters need property tax relief. And she
wants to pay for it with $21 million dollars raised by eliminating a capital
gains tax exemption.
Governor Jim Douglas rejects the idea. He says the Speaker is trying to launch
new spending programs.
Congressman Peter Welch is
sponsoring legislation to provide tax relief for middle income Vermonters.
The proposal includes $7
billion in new tax credits for child care, adult dependent care and
Advocates of changing the way Vermont pays for education say an income tax would be fairer than the statewide property tax.
But opponents say the proposal would put too much burden on Vermont’s income tax.
The complexity and frustration over Vermont’s property taxes has prompted some people to wonder if there isn’t a better way to fund schools in the state. Bob Kinzel’s guests are Tax Commissioner Tom Pelham and Rep. Bud Otterman.