Current News

Vermont Business Magazine Senator Peter Welch (D-VT) sent a letter this week to United States Department of Agriculture (USDA) Under Secretary for Rural Development Xochitl Torres Small, uplifting the concerns of Vermont-based stakeholders in broadband deployment surrounding the USDA’s ReConnect Loan and Grant Program and the Community Connect Grant Program—two initiatives that provide essential support for rural broadband deployment. During a round table discussion on broadband access hosted by Sen. Welch and Undersecretary Torres Small in St. Johnsbury, Vermont, local stakeholders identified program application requirements that have limited Vermont’s access to both ReConnect and Community Connect and called for improvements to speed broadband deployment.

by Timothy McQuiston, Vermont Business Magazine Personal income taxes, the most important General Fund revenue source, as well as corporate and the sales tax, all underperformed in March, according to Secretary of Administration Kristin Clouser. She released Vermont’s revenue results today. Clouser said she is uncertain whether a second straight month of disappointing personal income tax revenues was a trend foreboding a weakening economy, or whether it was a blip on the screen. The tax return season can result in uneven revenue results until the close of the fiscal year at the end of June. As for taxes, for the sixth month in a row, both the General Fund and the Transportation Fund ended with revenue above consensus expectations. The Education Fund, however, missed its target by just under $1.6 million. Year to date, only the Education Fund is lagging its respective target as adopted by the Emergency Board at its January 17, 2023 meeting.

by Roxanne Vought, VBSR Executive Director With nearly two-thirds of all energy currently used in Vermont to heat homes coming from fossil fuels, our thermal sector sits atop a list we might title "Unsustainable Status Quo." At Vermont Businesses for Social Responsibility (VBSR) we have always called for bold climate action. In this moment, there are no bold ways forward on climate that don’t directly – and immediately – address how we and our neighbors heat our homes. Along with hundreds of members and partners, we are calling upon our elected officials to meet the urgency of the climate crisis with decisive legislation that gets to the heart of what needs to be done: lowering emissions and moving Vermont to a clean energy future. No single policy decision will get us there, but the Affordable Heat Act moves the needle in some very effective ways.

by Timothy McQuiston, Vermont Business Magazine Today, the Vermont Department of Labor reported that the seasonally adjusted statewide unemployment rate for March was 2.7 percent. This reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate. The rate is based on household data. All three of the major indices showed improvement as the spring economy warmed up. The civilian labor force participation rate was 63.7 percent in March, an increase of one-tenth of one percentage point from the prior month. The comparable United States rate in March was 3.5 percent, a decrease of one-tenth of one percentage point from the revised February estimate. Inflation continues to fall significantly.

Vermont Business Magazine If you are outdoors foraging for wild leeks, also known as ramps (Allium tricoccum), health officials want you to be sure you don’t mistake the ramps for a poisonous lookalike plant called false hellebore. The young leaves of American false hellebore (Veratrum viride) can resemble the edible ramps now making their springtime appearance. However, false hellebore contains poisonous chemicals called alkaloids, and eating it can make people very sick. In most cases, people who have eaten false hellebore need to go to the hospital.

Vermont Business Magazine Chairman of the Senate Health, Education, Labor, and Pensions (HELP) Committee Bernie Sanders (I-Vermont) announced on Friday that the committee will hold a hearing entitled, “The Need to Make Insulin Affordable for All Americans” on May 10. The CEOs from the major insulin manufacturers, Eli Lilly and Company, Novo Nordisk, and Sanofi, and top executives from the major pharmacy benefit managers (PBMs) of CVS Health, Express Scripts, and OptumRX, will testify. In 1923, the inventors of insulin sold their patent for $1 to save lives, not to make pharmaceutical executives extremely wealthy. While researchers estimate a vial of insulin costs just $8 to manufacture, the price has gone up by over 1,000 percent since 1996. Sanofi’s Lantus costs $292 per vial. Novo Nordisk’s Novolog is listed at $289. Eli Lilly’s Humalog can be purchased for $275.

by Vermont Chamber President Betsy Bishop This week, the tri-partisan Rural Caucus of the House of Representatives emerged as true leaders on housing. Members of the Rural Caucus reaffirmed their commitment to addressing the statewide crisis, as they promised their constituents they would when they ran for election only six months ago. A letter to the Speaker of the House, Jill Krowinski, was signed by 33 legislators from the Rural Caucus supporting regulatory changes to create more housing for Vermonters. They did this even after House Leadership instructed members of the House General and Housing Committee to stop discussing or voting on an amendment that would have addressed these same concerns. With 23 Democrats, 7 Republicans, and 3 Independents, this coalition suggests real power.

Vermont Business Magazine National Prescription Drug Take Back Day is Saturday, April 22, 2023. The Rutland County Sheriff’s Department will host a drive-thru disposal event at Rutland Regional Medical Center from 10am – 2pm in the employee parking lot at the hospital. This is an opportunity to clean out your medicine cabinet and turn in your used and unused prescription drugs in a safe and anonymous way. In addition to the Take Back event at Rutland Regional Medical Center, other drop off locations throughout Rutland County are open between 10am – 2pm on Saturday.

by Timothy McQuiston, Vermont Business Magazine Governor Phil Scott today visited Vermont’s Largest Career Fair at the Champlain Valley Exposition, where he met with dozens of employers and job seekers. The event, sponsored by Associated General Contractors (AGC) of Vermont, in partnership with Vermont's Department of Labor, the Agency of Education, the University of Vermont (UVM), and the Vermont Independent Electrical Contractors (VEIC), included over 150 employers looking to hire and attracted over 1,000 potential employees. Prior to visiting the fair, the Governor, Labor Commissioner Mike Harrington, Acting Education Secretary Heather Bouchey and several employers delivered remarks at the Governor’s weekly press conference, focused on our demographics, workforce challenges and affordability.

Vermont Business Magazine The Goddard College Staff Union (GCSU) voted yesterday evening to suspend our strike and return to work on Friday, April 21, after reaching a tentative agreement with Goddard College Corporation. Members have been out since March 24, marking 28 days on strike. Workers won a real increase in wages for those making under $20 an hour and increased time off in recognition of staff’s sacrifices, while also rejecting a so-called “management rights” clause. Members will vote on whether to ratify the final agreement in the coming days.