February 28, 2024

Contact: Anika Heilweil, Fund Vermont’s Future and Fair Share for Vermont Campaign Manager, anika@publicassets.org

Montpelier, Vt.–– Today, Governor Scott highlighted affordability in his weekly press conference. It’s time to ask: “affordable for whom?”

The following statement was issued in response by the Fair Share for Vermont campaign:

“Vermonters face significant affordability concerns that require public investment. Wages are not keeping up with rising costs of living. We see the impacts of economic pressures on our families and communities every day. And by refusing to consider any proposal that would improve affordability for the majority of Vermont residents but would require an increase in state revenue, Governor Scott ignores significant policy options.

As we consider the Governor’s remarks, the question remains: affordable for whom?

Incomes for the top Vermont income-earners are separating from the rest, as a 40 year trend of income and wealth inequality persists. Annually, total income for the top 1% of Vermont taxpayers is double the entire General Fund, a top 1% that has benefited disproportionately from federal tax cuts including the Tax Cuts and Jobs Act of 2017. Our state and local tax system remains regressive for the highest income earners, concentrating wealth at the top and preventing the state from gathering crucial state revenue. Arguments that Vermont can’t afford to increase taxes– even on the wealthiest Vermont residents– ignore this reality.

Today, the Governor asked us to prioritize. We choose to prioritize all Vermonters. He asked us to have a plan. We have a plan, and two bills, H. 827 and H. 828, are being discussed by the House Ways and Means Committee that would raise revenue from those most able to pay. By increasing taxes on the wealthiest Vermont residents, we can raise significant state revenue to better address affordability concerns and make our state better for everyone, including the wealthy.

Governor Scott continues to tell Vermonters that we can’t afford to invest in a Vermont that works for everyone who lives here. The reality is, we can’t afford not to.”

More information is available at fairsharevt.org

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