State Budgets: Vermont Makes Cuts, Considers Income and Gas Tax Increase

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.