The House last week passed H.740, its largest state budget bill. The 188-page bill appropriates a total of over $8.12 billion in funding, much more than a typical budget, by utilizing the remaining federal recovery funds and one-time surpluses, the Lake Champlain Chamber Advocacy newsletter reports.
This total includes $120M of one-time General Fund appropriations, and $428M of ARPA appropriations in FY23, but excludes $200M of FY 2022 one-time transfers related to pensions. You can see more detail here.
“The budget makes major investments in workforce development, fighting climate change, housing, state IT infrastructure, broadband and shoring up the state employees and teachers pension funds, among other things,” according to a report by Leonine Public Affairs.
Gov. Scott has expressed concern that state spending focuses less on one-time major investments and more on funding programs that are likely to need ongoing funding, even after federal funding has dried up.
The House also passed the yield bill, H.737, the Lake Champlain Chamber reports. It deals with most of the ~$95 million surpluses that has been widely discussed this session. H.716 (miscellaneous education law changes), H.703 (omnibus workforce bill with $15 million for CTE), and S.286 (pensions) are also considered being funded by the $95.7 surplus in the yield bill.
Those aren’t the only major spending bills in Montpelier this year. According to Leonine, the separate Transportation Bill “also sets records with large increases in paving, bridge maintenance and alternative transportation upgrades and initiatives. The Capital Bill, H.739, allocates $21.5 million for expanding cell service coverage.”
Categories: Legislation
They could t just save it? or They couldn’t give it back to us based on how much we have each paid in state income tax? Nope. Gottta spend it.
Well I’ve got some money in a CD. Maybe I should just find something to spend every last dime of that on too. Heck, while I’m at it…. I should go get a multimillion dollar loan and spend all that on frivolities too. Like the federal government has been doing year after year.
Right on. I’d like to see these budgets KOed instead of OKed!
Surely no help in sight for working class Vermonters….
Looks more like they did for themselves and their “Agenda” then they did for us Vermonters. I’ll actually read the bills when I want to be upset again.
Legislature wants a new dining room and kitchen. WOW!!
What happened to the Vermont I knew in the 70’s?
How about investing it in food to prepare for what they say is coming? We won’t be able to drive and get on the roads and afford gas or Tesla batteries if super-inflation comes. All will need to eat.
This new bigger then ever budget does not sound too good for the working class Vermonter,as usual! I guess when enough working VERMONTERS Leave Vermont for less expensive States, the Legislature will put on an uniform and work at McDonalds or Walmart or wherever..
Since they will have forced everyone out with their stupid pet projects and not given relief to those that could use it, they will be the only ones left, oh and those rich enough to afford all the nonsense!! Who will they have left to shaft??
Governor is correct about this, just one-shot items. Instead of growth items to benefit the future!
Record SpendingBudget… isn’t that nice… how about using that “ unanticipated “ Fed and state revenue to pay down prior commitments like pensions, one-time bills with no provision for future re-accruing cost, etc. Affordability, Economic development, taxes and unneeded regulations should be the absolute priority of our Legislature recognizing our stagnant/aging population and business closings/departures! Not aggressively addressing these issues is putting the future health of our state at risk!
Is there any incentive to live in Vermont? A State with a declining population and out of control taxation and spending. Vermont is beautiful and has resources. Yet, the power structure here continues to squander away opportunity and dither over nonsensical, unsustainable policies. The dependence on Federal money is unsustainable. For many, the writing is on the wall. Many have left or in the planning stage to get as soon as possible. Vermont is a playground for the wealthy and guaranteed poverty for anyone who remains.
This follows the Gov. Kunin playbook. Find any money that has ‘t been spent, and instead of reducing taxes, spend every penny possible for whatever you can find to spend it on. Our state does not have the economic robustness nor the job/pay infrastructure support the continued spending spree. I’m expecting to hear one about tax increases, because, “If the people want these programs, they’re going to have to pay for them.” It turns out the people who want them are not necessarily the ones who will have to pay for them. PLEASE show some restraint in the way you spend our hard earned money!