by Jack Hoffman, Public Assets Institute Twenty years ago, Vermont lost a valuable tool that let the state easily adjust state revenues to respond to fluctuating demands for public services. It’s time to find a replacement. In 2002, the state ended the simple, straightforward system for assessing personal income taxes that had been in place for more than 30 years. Vermont stopped using the “piggyback,” whereby the amount of income tax a person owed to Montpelier was calculated from the amount owed to Uncle Sam. Typically, the rate was about 25 percent of a person’s federal tax liability. But it varied, which was the beauty of that system. The strength of the piggyback system—being tied to federal tax policy—was also its weakness.

Vermont up to $4.46, gas prices surge as EU sets stage to curb Russian oil

Vermont Business Magazine It’s going to be a long year for motorists, as gas prices set a fresh record at the pump today, rising above the previous all-time high of $4.35 per gallon set on March 10, according to GasBuddy, the leading fuel savings platform providing North American drivers the most ways to save money on gas. The national average price of gas is now $4.42 per gallon, and could continue to climb through Memorial Day as summer road trip season begins and oil prices remain volatile. Vermont is even higher at $4.46/g.

Vermont Business Magazine The small business community and members of Main Street Alliance and Vermont Businesses for Social Responsibility applaud the Vermont General Assembly on the passage of S.11, a workforce and economic development bill that would establish a program to provide wage replacement for workers experiencing loss of work for reasons associated with COVID-19. Throughout the COVID-19 pandemic, Vermonters everywhere have been asked to stay home and isolate or care for others in the event of an exposure – and by and large Vermonters have risen to the occasion, not only to keep themselves safe, but to keep those around them safe as well. 

Vermont Business Magazine Engelberth Construction, Inc (ECI), a leading Construction Manager/General Contractor, is celebrating its 50 years in business milestone. In 1972 Engelberth Construction was established in the basement of Otto Engelberth’s home in Colchester, Vermont and grew steadily on the cornerstones of hard work, trust, integrity, and pride in craftsmanship. Over the past 50 years, Engelberth has become a leader providing preconstruction and construction services in the academic, healthcare, assisted living, manufacturing, resort, multi-unit housing and historic preservation markets. 

Vermont Business Magazine As announced in KeyCorp’s 2021 Environmental, Social and Governance (ESG) Report released in April, the bank has surpassed the five-year goals of its National Community Benefits Plan, providing more than $26 billion focused on economic access and equity to communities across the country. With branches across Vermont, it invested more than $127 million in the past five years in the state.