Betsy Bishop: Legislature considering $461 million of new taxes and fees

by Betsy Bishop, President, Vermont Chamber of Commerce Today, the Vermont Chamber circulated the following message with the Vermont business community: “Your Voice Matters: Inform Legislators How $461 Million of New Taxes and Fees Would Impact You."

Right now, legislators are considering a sweeping influx of new taxes and increased fees without reflecting on the long-term impacts it will have on their constituents. We are deeply concerned that Vermonters will be unable to weather the nearly half a billion in increased costs over the next two years that the Legislature is poised to pass this session.

We want to be sure you understand what is being proposed. Currently, the following cost increases have the support of the Legislature:

  • Multiple payroll taxes
  • Significant increase in DMV fees
  • Entirely unknown upfront costs imposed by the Affordable Heat Act

The Legislature is also considering leveraging the following taxes and fees:

  • Service Tax
  • Cloud Tax
  • Professional Regulation Fees

Vermonters are already experiencing inflation, shortages of basic goods due to supply chain disruptions, and scarcity of essential services due to workforce shortages. This is compounded by a severe lack of available childcare and housing statewide. Many legislators believe that now is the time to raise new payroll, business, and consumer taxes to pay for new and expansive programs, but each issue the legislature celebrates comes at a price. Vermont can be a leader on major initiatives without placing an undue burden on voters.

We remain dedicated to advocating for the legislature to pass bills that are rooted in the economic reality of Vermont. Contact your State Representatives and Senators today and encourage them to strike a balance between spending on new programs and taxing Vermonters.”

About the Vermont Chamber of Commerce

The most influential statewide, not-for-profit business organization. The Vermont Chamber of Commerce represents every sector of the state’s business community focusing its work on advancing Vermont’s economy.

Source: Montpelier, VT (April 11, 2022) – Vermont Chamber of Commerce