State Government

With price of average VT home $369K, Guv wants $145 mil to add housing

Campaign for Vermont

Governor Scott introduced his $7.7B budget on Tuesday and, as anticipated, focused much of his time and attention on the 24,000 workers lost from the economy since February 2020. The proposed budge would put $4.7M into internship, training program, tech center programs. In addition, $33M would be used to recruit and retain nurses, mental health and other healthcare workers.

Trade programs would see an additional $10M for education assistance and the remote and relocated worker program would see an additional $8M investment (paid for by people who move here). He also asked for a program to do regional outreach for workforce recruitment. To further help address workforce issues, the budget would increase UVM’s base funding by $10M and state colleges by $41M in addition to further investments in Prek-12 education.

Also emphasized was the need to build more housing – particularly for middle income families. The median home price in Vermont is $369k, out of reach for many middle income families. The Governor is recommending using $145M in ARPA funds for new single-family construction, rehabbing existing structures, and construction of affordable mixed-use housing.

To make Vermont’s cost of living more competitive, he proposed (again) to exempt military pensions and student loan interest from income taxes. Layering in an earned-income tax credit and a child tax credit would net taxpayers a $50M reduction in tax liability for FY2023 (primarily targeted at middle-class families).

The Education Fund is projected to net a large $90M surplus from FY2022. The Governor proposed issuing a property taxpayer rebate of $45M and spending the other half on investments in our future workforce.

Another major funding category was $216M to address climate change and resiliency. The focus is on “empowering” (aka incentives) instead of mandating.

Finally, the budget carves out an additional $245M for expansion of broadband and cell coverage. Dozens of smaller programs were also mentioned, including project-based TIFs, a paycheck protection like program, outdoor recreation, municipal planning grants, hospital stabilization, mental health, E-911, water and sewer infrastructure, brownfields, extended bridge grants, transportation, short-term small business loans, and even a grant program to boost grand list values (still waiting to hear how this would work).

6 replies »

  1. Spend, spend, spend.

    Distribute the $$ to crony connected friends and family through wasteful programs that will have barely if any positive impact in the long run.

    $10M more to UVM? (I sarcastically wonder if tuition will go down?)

    Our governmental system has became pathetic, with pathetic “leaders.”

    • “PATHETIC” doesn’t begin to describe what we are witnessing from every level of “OUR” Government in my beloved Vermont. WHAT IS HAPPENING FILLS ME WITH LOATHING AND RAGE.

  2. And of course the retired senior citizens get to keep having their social security taxed (or re-taxed as it were) because they deserve NOTHING for all their decades of paying more than their fair share. And after all the fed & state government entities culling their population as much as possible through Covid19 – they should all be gone in due time anyway.

    Governor Scott…..YOU’RE in YOUR mid 60’s, correct? What goes around, comes around.

  3. He wants to spend about as much on climate bs as everything else listed above it in this article! And no I didn’t add all them up but by quick glance they seemed they would be very similar numbers. Stop spending wasted money on climate crap that will make no difference at all, especially coming from one of the smallest states in the country!! And this is supposed to be from a republican, I mean rino. Man I’m getting fed up with VT!

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