PAI Staff: Anika Heilweil, Jack Hoffman, Julie Lowell, PhD, Sarah Lyons, Stephanie Yu.
Public Assets Institute We noted a real shift in the revenue conversations from previous years. We saw an increasing recognition that we have to rethink the “manage to the money” approach Vermont has been stuck in for decades, and there was an openness to consider Vermont’s capacity to increase revenue in order to address the many challenges we face.
Fair Share for Vermont Campaign
Anika and the Fair Share for Vermont Campaign focused on raising progressive revenue and equitable taxation this session—they supported a proposal for a three percent tax increase on marginal income over $500,000, and a proposal to tax unrealized gains at the state level.
The 3 percent surcharge passed the House in H.829 with strong support, and Anika and the rest of the coalition are already laying the groundwork to see the bill through the Senate next year. The wealth tax proposal opened a timely conversation in both the House and Senate about raising revenue from those most able to pay and the coalition is looking forward to providing the legislature with additional resources to move this complex proposal forward next session.
Anti-poverty Tax Credits
Julie led the Anti-poverty Tax Credit Coalition in supporting a bill to increase Vermont’s EITC and protect credits from state debt collection. The bill didn’t make it out of committee this year, but provided Julie and the coalition with opportunities to explain the effectiveness of anti-poverty tax credits in both houses and open the door to continue the conversation next session.
They also worked on ensuring that every eligible Vermonter knows about the EITC and CTC and how to get them. Julie and the coalition launched TaxCreditsVT.org; collaborated with the Vermont Language Justice Project to produce informational videos in 17 languages; worked with the Vermont Department of Taxes towards a partnership with the IRS’ free direct file program; and did outreach at community events and presentations across the state.
AI illustration of Julie and her sidecar-riding sidekick Mookie (a pitbull poodle mix) up with the sun and fighting for anti-poverty tax credits. Image: Anthony House
Education funding
As the legislature grapples with statewide ed funding questions, we’ve been digging into what we know—and what we need to know—to ensure that any changes to the funding system are moving in the direction of simplicity and equity and that we retain local voters’ voice in school budget decisions. Jack’s latest blogs on weighting and the CLA pose some important questions for all of us interested in educational equity.
One bright spot for education funding this session was the creation of an independent Education Fund Advisory Committee, something Public Assets has been advocating for since 2018. The charge of this committee is to make recommendations for the Education Fund based on facts and data, not fear and short-term political gain. This will be a big improvement to the current system and we look forward to supporting the committee to ensure they have the quality data they need to make fact-based decisions with a long-range view.
Recent presentations and publications
Steph testified in House Ways and Means on the State of Working Vermont Report
Steph was a panelist at VBSR’s Planning for Progress: Exploring Revenue Strategies for Vermont’s State Budget.
Julie and Anika presented at Early Childhood Day at the Statehouse
Steph and Anika took a stroll by the lake and updated folks on the progress of the Fair Share for Vermont Campaign
Anika also spoke about economic justice and adequate funding for social safety net programs in rural areas at the inaugural The Betty Edson Peace and Justice Lecture Series at the Chandler Center for the Arts in Randolph.
May jobs brief: More Vermonters are working than ever before
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