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By Guy Page
The Vermont Agency of Transportation (VTrans) has submitted a plan to cut $7.5 million from its current year budget in response to a shortfall in the state’s Transportation Fund. Lawmakers will hear public comment on the proposal next week.
State revenue to the Agency of Transportation is largely derived from transportation-related taxes and fees. Transportation fund receipts are down overall, with the largest deficits in diesel fuel sales tax and motor vehicle purchase and use taxes and fees. Gasoline sales are not below target.
The VTrans rescission plan would cut:
$2 million by delaying the Springfield garage project
$2.25 million in management position savings, beyond vacancy savings already projected in FY ‘26 budget.
$575,000 in equipment purchasing and servicing at the Central Garage
$500,000 by delaying the Rutland platform project
$421,000 in a technology automation project
$415,000 in reduction to tree cutting
See graphic for these and other proposed cuts.
At its July meeting, the Emergency Board adopted a revised revenue forecast for FY2026 that came in $7.5 million below the estimates used to build the transportation budget passed earlier this year. Under state law, VTrans is required to submit a plan to realign appropriations with the lower revenue projection.
Two opportunities for public comment have been scheduled:
- Wednesday, Sept. 17, from 3 to 5 PM at the Joint Transportation Oversight Committee meeting in Room 10 of the State House, with public testimony expected to begin at 4:20 PM.
- Thursday, Sept. 18, from 9:30 AM to 3:30 PM at the Joint Fiscal Committee meeting in Room 11, with public testimony expected to begin at 10:45 AM.
Members of the public may testify in person or via Zoom. Those interested should contact legislative staffer Sorsha Anderson at sorsha.anderson@vtleg.gov.
The full rescission plan is available on the Legislative Joint Fiscal Office website.
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Categories: State Government, Transportation, Uncategorized
Imagine that! People aren’t buying new cars as much. When the state keeps helping themselves to our wallets, we spend less. Eat it, Montpelier!!
Are Ev’s paying a per mile stipend to make up for fuel taxes? They use and abuse the roads just like gas/diesel powered vehicles. You can save the environment but pay to do it.
Eighty thousand dollar pickup trucks are being driven by my house every day so someone must be buying them. Maybe some of these have not been traded in to find out how bad the owner got screwed when they bought it. Comment from Richard Day. Oh I forgot, the state made a lot of money on these over priced automobiles with higher sales and use taxes.
Keep in mind that some of those trucks are owned by businesses. If you use a vehicle or truck for business purposes, you can deduct its expenses on your taxes. This includes using either the standard mileage rate or the actual expenses method to calculate your deduction.
Just a maybe here,…. but, MAYBE it is good that the state is cutting back somewhere. Perhaps we could extend this maybe to other state departments with planned spending.
Ah gee, 12 DMV guys all driving their own DMV pickups, standing around to inspect one truck coming through the weigh station? Really, we’re cutting back?
Please eliminate. The crazy yearly auto inspection ! I purchased a NEW CRV and had to pay to have it inspected, rediculous ! New Hampshire just dropped theirs 👍only 10 states left for inspections 👎👎help car owners, please !!
Morgan Stanley August 6, 2025:
“The value of the U.S. dollar against other currencies dropped about 11% in the first half of this year, the biggest decline in more than 50 years, ending a 15-year bull cycle.”
“Foreign investors have been adding hedges to their exposure to U.S. assets, which will likely further weaken the dollar.”
The purchasing power of a US Dollar (federal debt note) declining and investors hedging exposure – (dumping treasury bonds or not buying.)
Dallas Morning News – September 11, 2025: A hint at what is to come:
“Tricolor filed for Chapter 7 bankruptcy, which includes liquidating the firm’s assets. According to its bankruptcy filing, Tricolor had between $1 billion and $10 billion in assets and the same for liabilities. It listed more than 25,000 creditors.”
“On Tuesday, Fifth Third Bancorp, listed as one of Tricolor’s secured lenders, reported to the U.S. Securities and Exchange Commission it had “recently discovered alleged external fraudulent activity at a commercial borrower … associated with their asset-backed finance loan.”Speaking at a Barclays conference Wednesday, Fifth Third CEO Tim Spence said that based on a review of the borrower, “It appears there’s significant fraud in the collateral file that was used to support borrowing base in all their warehouse facilities, as well as the audited financial statements of the company.”
Fifth Third and Spence did not initially name the borrower, but the bank confirmed that Tricolor is the borrower referenced in an email Thursday to The Dallas Morning News. The SEC filing indicated Fifth Third was working with the “appropriate law enforcement” in connection with the matter.
Other secured lenders include JPMorgan Chase, Barclays and Origin Bank. Origin has $30 million in total loan commitments to Tricolor and counted Tricolor CEO Daniel Chu among its board members until Sunday.”
A sub-prime lending scheme in the auto industry. Smell familiar? 2008 sub-prime mortgage fiasco? Best be prepared!