Vt. lawmakers give in on tax changes
The Associated Press
MONTPELIER— Vermont lawmakers say they’re giving up their effort this year to make the state’s income tax more progressive.
The move came after Gov. Peter Shumlin insisted he wanted no changes.
Senate President Pro Tem John Campbell says lawmakers had been pushing for capping the home mortgage interest deduction and making other changes designed to get more revenue from high-income taxpayers and less from middle- and lower-income Vermonters.
Lawmakers have been maintaining that the changes are revenue neutral, but Shumlin says his aides’ calculation show they would raise millions of new dollars.
Campbell says lawmakers will take up the issue when they come back in January.
Meanwhile, he says he’s still hopeful they can wrap up their business for 2013 by Tuesday evening.