MONTPELIER, Vt. (WCAX) – Lawmakers may soon start looking to wealthy Vermonters to help address the state’s financial challenges.
A group of lawmakers in the House and Senate have introduced a package of bills they say will reclaim tax breaks Vermont residents over a certain tax bracket received from the Big Beautiful Bill.
Two of the bills are expected to raise taxes on those making over $250,000 a year, and on those with second homes, while another would use funds raised to get a jump start on needed repairs for Vermont schools.
At a press conference this week, lawmakers said the proceeds could be re-invested in healthcare, the environment, education, food security, and other concerns.
“It’s correcting an imbalance created by our federal leadership, who have chosen to accelerate the worst economic inequality in the US since the 1920s, ” said Rep. Kate Logan (P-Burlington).
“The question is simple, should the top 5% contribute a little more so the bottom 95% can afford to work, live and prosper here?”
Vermont is not the only state to pursue taxes on it’s wealthier residents, Sen. Bernie Sanders was in California Feb. 18, pushing for similar taxes there. California governor Gavin Newsom does not support the taxes, concerned about residents leaving the state.
