Office of Lt. Governor David Zuckerman
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FOR IMMEDIATE RELEASE
April 1st, 2024
Contact
Lisa Gerlach
Chief of Staff, Office of the Lt. Governor
(802) 636-7047
Lisa.gerlach@vermont.gov
NEWS: Lt. Gov. Zuckerman’s statement on FY25 Budget and Tax Increases
MONTPELIER, Vt: On Monday, Lt. Governor David Zuckerman issued the following statement in response to the Governor’s remarks last week about the House’s proposed FY25 budget and the proposed taxes on the wealthiest and highest earning Vermonters.
“Last week, the House passed the FY25 budget. They prioritized some of the issues which affect those who are most vulnerable. The vast majority of the budget has been structured to benefit low- and middle-income Vermonters. It achieves these goals by asking wealthy Vermonters to participate in funding programs that help our most vulnerable. This budget includes a total increase of merely 0.2% over the Governors recommended budget. Working Vermonters deserve this investment.
“The House budget funds important initiatives that will help vulnerable people, such as the emergency temporary shelter program and an expansion of Medicaid eligibility for hard working, low-income Vermonters in ways that the Governor’s budget does not. These initiatives are paid for with marginal tax increases on the top 2% of income earners and on large corporations. The House budget also incorporates lowering the property transfer tax (PTT) for properties with a value less than $750,000, helping to make housing a little bit more affordable for working class and vulnerable Vermonters. While the PTT will increase on properties with higher values, I think it is a stretch to say those purchasing such homes are our most vulnerable.
“Time and time again, Governor Scott has stated that making Vermont more affordable and protecting the most vulnerable are two of his major priorities. And we know that right now, times are very difficult for working people. The House budget is tailored to address some of the most pressing needs of our most vulnerable populations. By drawing additional revenue from individuals and corporations with very high incomes, we will be able to fully fund the programs that we need to move our state forward and help our most vulnerable.
“We are facing a multitude of crises in our state: a housing crisis, an opioid crisis, a climate crisis, and so much more. These crises have disproportionately affected lower- and middle-income Vermonters. To truly help our most vulnerable populations, it is imperative that we make investments in housing, to protect our climate, and in human services. The Governor’s implication that the 0.2% increase in the House’s budget will heavily burden everyday Vermonter’s is a gross mischaracterization of the revenue streams and investments that the legislature has chosen to make. While the legislature is trying to find real solutions to help vulnerable people, the Governor’s statement is exploiting the real suffering of vulnerable Vermonters to help those making over $500,000. We can do better.”
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