This spring, I’ve been traveling across the state talking with Vermonters about what we can do in the face of federal threats to our safety and security.
As I’ve listened to your stories, I’m reminded of how important it is to be able to distinguish what’s true from what’s not. We are bombarded by seemingly contradictory information all the time, and the volume of information is overwhelming. Public Assets strives to ground Vermonters in what we know–and what we don’t–so we can work toward a state that works for everyone.
Policymakers can’t respond to federal cuts to vital services without understanding how they affect Vermonters. We can’t improve our public education funding system without understanding what’s working–and not–about the current system. And we can’t make our tax system more progressive without real information about who can afford to pay what. There’s no question that we need bold action from the state to protect and invest in what we value, and that action needs to be grounded in solid analysis.
You count on Public Assets to cut through the noise and deliver the data and analysis you need to participate meaningfully in conversations at the local, state, and federal level. And we count on you to keep asking questions and speaking out for what you value.
Steph Yu, Executive Director
Fair Share for Vermont
This year, Vermonters made a powerful statement that we can chart a different path from the federal government. Thousands of Vermonters pushed back against federal tax and budget policies that take critical services from everyone to give tax breaks to the wealthiest.
H.R. 1 gave the top 1% of Vermonters an average federal tax cut of $57,000 per year and made substantial cuts to Medicaid and food assistance. This spring, Vermonters sent thousands of emails and calls to legislators in support of policies to recapture a portion of those cuts and invest them in policies that benefit us all. A group of wealthy Vermonters sent a public letter of support to legislators and the Scott Administration. These policies included a new tax bracket on the top 1% of Vermont taxpayers (which would tax income over $586,000 per year) and a surcharge on unearned (non-wage) income for high-income Vermonters.
While the policies did not ultimately pass, it’s clear that Vermonters support increasing taxes on the wealthiest for the collective good. The campaign will be back next session to continue to fight for a fair tax system that meets Vermont's needs.
Education reform
The big news this year on education reform was public resistance to the governor’s insistence on forced mergers. While Act 170 does not make district mergers mandatory, it does require all school districts to participate in designated study committees to explore the formation of unified, union school districts with at least 2000 students. The bill also shifts to a different model for shared services among districts, setting up seven Cooperative Educational Service Areas (CESAs) across the state. Like Act 73 last year, the legislation leaves important decisions to be determined later, including second home taxes, what would and would not be included in a potential foundation formula, and how to pay for school construction.
H. 949, the “Yield Bill,” establishes the school tax rates for fiscal 2027, and sets up some future changes for schools and taxpayers. The Legislature used a $100 million transfer from the General Fund and about $20 million in reserves to hold down property taxes for the coming year.
Read the full analysis on the updated Ed Funding Reform Hub:
Vermonters’ wages lag behind the national average
Vermont’s average wage in 2025 was $67,164 annually, well below the U.S. average of $78,722. All of Vermont counties’ average wages also came in below the national average.
Find out how the average wage in your county compares to the state and national averages:
Three new board members
As we say goodbye to one of our longest-serving board members, we are thrilled to announce the addition of three new members to the Public Assets Board.
Jonathan Williams brings a strong background in policy, advocacy, and human services work to his role on the Board. He currently serves as the Executive Director for Prevent Child Abuse Vermont, a statewide nonprofit dedicated to ensuring every youth in Vermont has a safe and happy childhood and was previously a member in the Vermont House of Representatives. Read more about Jonathan and what he’s looking forward to about serving on the Public Assets board.
Founding Public Assets board member Carlen Finn is returning to the board after a two year hiatus. A staff member of Voices for Vermont’s Children for over 30 years, Carlen is currently a senior policy associate focused primarily on public education and health equity. She brings extensive experience in data and policy analysis, outreach, coalition building, and coordination to the board. Read more about Carlen and her commitment to Public Assets.
Stephen Klein retired from decades of service as the chief fiscal officer of the Vermont Legislature’s Joint Fiscal Office (JFO), providing fiscal analysis, budget evaluation, performance oversight and fiscal policy support for the Legislature. His many leadership roles include service on the advisory board of the New England Public Policy Center at the Federal Reserve Bank of Boston and was a guest lecturer on the legislative budget process at the Vermont Law School. In retirement he has been active in refugee work, food assistance, and other community organizations. He also spends time biking, walking and being a grandfather. Read more about Stephen and the experience he brings to the board.
As we welcome Jonathan, Carlen, and Stephen, we say goodbye to long-time board member Steve Gold. Steve joined the Public Assets Board in 2012, serving a Vice Chair until 2019 when he became board chair. During Steve’s tenure on the board, Public Assets grew from a small team of three to a deeply rooted organization with seven staff members dedicated to asking the questions, running the analysis, and making the connections necessary to build a Vermont that works for all. Steve plans to get out on the water with all his new free time.
6.25.2026. Public Assets Institute PO Box 942 Montpelier, Vt www.publicassets.org
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