latest revenues

[Carolyn Branagan]

Legislators at  the statehouse heard last week from economists who tried to explain the slowing of state revenue growth. We are about half way through fiscal year 2012. Revenues have slowed, mainly because of payouts from Corporate income tax withholdings, but also because gasoline prices are higher, winter tourism has been disappointing and overall economic growth has slowed. The General Fund revenue forecast for FY12 has been lowered by $1.8 million and Transportation Fund and Education Fund revenues have been lowered too. The forecast overall for FY 2013 is  down by nearly $14 million,  meaning less money to spend this year and even less for next year.

The good news (I guess) is Vermonters still know how to work.  In 2000 the Vermont  manufacturing sector employed 46,300 workers and produced $2.27 billion in output. In 2010 that sector employed 30,800 workers and produced $2.82 billion in output, a  compounding rate of 6.5% . The productivity gain is astounding.

Vermont's unemployment rate is 5.3%, 5th lowest in the nation. The greatest job losses  are in construction and manufacturing. There has been job growth in health care and social assistance, but much of that job growth is paid by government sources. The  economy is still far from stable.

I'll continue to communicate on these areas of concern. Contact me at cbranagan@leg.state.vt.us

Rep. Carolyn Branagan
Franklin-1, Fairfax/Georgia

Vermont House  of Representatives

[rod anode]

what is the percentage of taxpayers to tax takers? just curious

[Carolyn Branagan]

This is a great question, Ed. A Fairfax taxpayer asked me the same question more than a year ago and I still have not gotten an answer from the administration. Neither has the taxpayer himself, in spite of his efforts to get direct answers to the question, 'how many people are collecting benefits from the Human Services Agency?'. Very frustrating.The administration comes up with all kinds of reasons not to reveal how many people are tax takers.
from,  C.