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Phil Scott on Tax Reform

 

 


Exempt more retirees, low-income workers, student interest

The $50 million progressive tax relief package I propose includes exempting military families' retirement income from state taxes. This package will build on the progress we made in 2018 by exempting more retirees from income tax on their social security and further increasing the Earned Income Tax Credit, which helps low-income workers. And we can help young workers and families with a student loan interest deduction and an increase to the child and dependent care credit.
Source: 2022 State of the State Address to the Vermont legislature , Feb 18, 2022

Will propose a balanced and progressive tax relief package

We should do our part to keep the costs of government policies from rising faster than peoples' wages. Because when these costs rise faster, we are pushing people down the economic ladder. But when take-home pay is growing faster than these costs, we are helping people move up. So, I will put forward a balanced and progressive tax relief package with a focus on those who need it, like retirees, middle income families and young workers.
Source: 2022 State of the State Address to the Vermont legislature , Jan 5, 2022

Let's eliminate the tax on military pensions

Let's eliminate the tax on military pensions because if we want members of the military to join our workforce, we must be able to compete with the 47 other states that have already greatly reduced or removed this burden. We have worked to improve our licensing laws, becoming one of the first states to give credit for experience gained in the military, accepting more credentials from other states. This is putting more skilled professionals to work, so let's further modernize these laws.
Source: 2022 State of the State Address to the Vermont legislature , Jan 5, 2022

Reduce unemployment payroll tax without impacting benefits

We have to remember that most businesses are small and owned by our neighbors. We must help employers in responsible ways, like reducing--not increasing--the cost of unemployment insurance without impacting benefits to the unemployed. And surely we can't add to the burden with a payroll tax on them or their workers.
Source: 2021 State of the State Address to the Vermont legislature , Jan 7, 2021

Increase estate tax exemption from $2.75M to $5.75M

The estate tax is a stable source--average revenue since 2004 has been about $19.5 million, and the lowest year was 2015 at $9.9 million. Tax professionals consistently tell me that because we are so far out of line with other states, the estate tax is a factor in retirees leaving. I propose increasing the current exemption from $2.75 million to $5.75 million over four years. This will align us with Maine and New York, and more closely with the federal exemption.
Source: 2019 State of the State address to the Vermont legislature , Jan 24, 2019

Scott and Republicans blocked many new taxes

Here are just some of the taxes and fees Governor Scott and Republican lawmakers were able to prevent: New carbon tax; New payroll tax on Vermonters' wages; Income tax surcharge; Increase in the meals and rooms tax; Occupancy fee; Per-parcel fee; Small business surcharge; Sugar tax; Bag tax; And many, many more!

Thanks to Governor Scott's vetoes and a united Republican Caucus, we avoided many new taxes and fees. They displayed fiscal responsibility and showed a real commitment to affordability.

Source: 2020 Vermont Gubernatorial campaign website PhilScott.org , Aug 7, 2018

Tax burden takes a toll on economic development

"In my first 18 months in office, we've avoided $70 million in forecasted property tax rate increases--including two consecutive years of level rates for residential property tax payers. We've eliminated the income tax on social security for low and middle-income households.

As we move ahead, I look forward to working with fiscally responsible lawmakers of all parties who understand the toll the tax burden takes on our economy and economic development."

Source: 2020 Vermont Gubernatorial campaign website PhilScott.org , Aug 7, 2018

Balanced budget without raising taxes

Early in my career working construction, I learned that when you find yourself in a hole and have a problem, the first thing you do is stop digging. Well, I'm proud to report that last year we stopped digging. We passed a budget that invested in our people and economy, without raising a single tax or fee. We closed a budget gap of more than $60 million, and limited budget growth to just over 1%, while wages grew at about 2%. This means--for the first time in recent history -that state government actually helped people keep more of what they earned.
Source: 2018 Vermont State of the State address , Jan 4, 2018

Property taxes shouldn't grow faster than property values

In 2014, 50% of Vermont's school students saw their school budgets voted down as many communities fought back against the property tax rates. Many communities reduced their budgets but still had substantially higher property tax rates imposed on them.

What did the Legislature do to address this unsustainable problem? Nothing. The property tax system is broken and Scott believes it's time for the Legislature to stop sidestepping this challenge and work with school boards to find a reasonable solution.

As a matter of principle, Scott does not believe property taxes should grow faster, on average, than increases in income or increases in the underlying fair market value of the property being taxed. He also believes that the state should audit all of its unfunded mandates and repeal them.

Scott will continue be a voice for those Vermonters struggling to pay their property tax bills and make developing a real, sustainable reform of our property tax system a top priority.

Source: 2016 Vermont Gubernatorial campaign website PhilScott.org , Sep 9, 2015

Other governors on Tax Reform: Phil Scott on other issues:
VT Gubernatorial:
Brenda Siegel
Esther Charlestin
Peter Duval
Scott Milne
VT Senatorial:
Bernie Sanders
Gerald Malloy
Peter Welch
Gubernatorial Debates 2023:
KY: Incumbent Andy Beshear(D)
vs.State A.G. Daniel Cameron(R)

vs.Ambassador Kelly Craft(R)
vs.State Auditor Mike Harmon(R)
LA: Incumbent John Bel Edwards(D,term-limited)
vs.Jeff Landry(R)
vs.Shawn Wilson(D)
vs.John Schroder(R)
vs.Sharon Hewitt(R)
MS: Incumbent Tate Reeves(R)
vs.Bill Waller(R,withdrew)
vs.Brandon Presley(D)

Gubernatorial Debates 2024:
DE: Gov. John Carney (D, term-limited);
vs. Lt. Gov. Bethany Hall-Long (D)
vs. County Exec. Matt Meyer (D)
vs. State Rep.Mike Ramone (R)
IN: Gov. Eric Holcomb (R, term-limited);
vs. Sen. Mike Braun (R)
vs. Suzanne Crouch (R, lost May 7 primary)
vs. Eric Doden (R, lost May 7 primary)
vs. Attorney General Curtis Hill (R, lost May 7 primary)
vs. Jennifer McCormick (D)
MO: Gov. Mike Parson (R, term-limited):
vs. Secretary of State Jay Ashcroft (R)
vs. State Senator Bill Eigel (R)
vs. Lt.Gov. Mike Kehoe (R)
vs. House Minority Leader Crystal Quade (D)
MT: Gov. Greg Gianforte (R)
vs. Ryan Busse (D)
vs. State Rep. Tanner Smith (R, lost June 4 primary) 		Gubernatorial Debates 2024 (continued):
NC: Gov. Roy Cooper (D, term-limited);
vs. Lt.Gov. Mark Robinson (R)
vs. Attorney General Josh Stein (D)
vs. Treasurer Dale Folwell (R, lost March 5 primary)
vs. Justice Michael Morgan (D, lost March 5 primary)
vs. State Senator Andy Wells (R,withdrew)
ND: Gov. Doug Burgum (R, retiring)
vs. State Rep. Rick Becker (R)
vs. U.S.Rep. Kelly Armstrong (R)
vs. State Sen.Merrill Piepkorn (D)
NH: Gov. Chris Sununu (R, retiring)
vs. U.S.Sen. Kelly Ayotte (R)
vs. Mayor Joyce Craig (D)
vs. Acting Gov.Chuck Morse (R)
vs. Exec.Councilor Cinde Warmington (D)
UT: Gov. Spencer Cox (R)
vs. State Rep. Phil Lyman (R)
vs. Minority Leader Brian King (D)
VT: Gov. Phil Scott (R)
vs. Lt.Gov.David Zuckerman (D, withdrew)
vs. Selectman Peter Duval (D)
vs. Commissioner Esther Charlestin (D)
WA: Gov. Jay Inslee (D, retiring);
vs. Attorney General Bob Ferguson (D)
vs. U.S.Rep.Dave Reichert (R)
vs. State Sen. Mark Mullet (D)
vs. County Chair Semi Bird (R)
vs. Hilary Franz (D, withdrew to run for U.S.Rep.)
WV: Gov. Jim Justice (R, term-limited)
vs. WV Attorney General Patrick Morrisey (R)
vs. Huntington Mayor Steve Williams (D)
vs. WV State Auditor JB McCuskey (R, withdrew)
vs. WV Secretary of State Mac Warner (R, lost May 14 primary)
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