State Budgets: Vermont Makes Cuts, Considers Income and Gas Tax Increase
December 26, 2008
Vermont lawmakers are discussing possible increases to income and gasoline taxes, over Gov. Jim Douglas (R)’s opposition, to address a budget shortfall estimated to be $66 million this year and $200 million next year out of a $4.3 billion budget. Douglas has proposed $20 million in cuts to various social service programs, and is urging additional cuts. (Note: Vermont is the only state where a balanced budget is not required by law, although the state traditionally balances its budget.)
More on Vermont here.