VPR News

Personal income tax receipts lag in December

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Vermont state officials say revenues coming into the state’s general fund were "generally on target" for December, but the state’s largest source of revenue, the personal income tax, showed a worrisome downward trend.
VPR News

State tax revenue report shows more signs of economic downturn

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There are new signs that an economic slowdown has hit the state of Vermont. The state’s revenue report for May shows a decline in most major tax sources. And it’s likely that the state will have to downgrade its projections for transportation-related taxes next month. VPR’s Bob Kinzel reports.
VPR News

List of $40 million in budget cuts presented to lawmakers

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The impact of Vermont’s revenue shortfall became very real this afternoon. That’s when a list of nearly $40 million in budget cuts was presented to key lawmakers and the Douglas Administration. The group needs to select $25 million in reductions from the list in the next few days.
VPR News

Elected officials to go without pay raises

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The Douglas administration plan to freeze salaries for about 350 executive branch employees who make more than $60,000 a year has prompted all but one of the Vermont’s statewide elected officials to forgo raises in the coming fiscal year.
VPR News

Big cuts expected for state budget

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Legislative leaders and the Douglas administration plan to cut 20 to 30 million dollars out of the state budget for the next fiscal year. State budget writers and legislators had expected a drop in revenue, but were surprised by the extent of the decline in general fund revenue in March.
VPR News

State revenue down for the month of March

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There are new signs of a slowdown in Vermont’s economy. According to Administration Secretary Mike Smith, state revenues for March were 10 percent lower than expected. And several consumption taxes have been soft.