Home » 2021 » January

Speaker decides against capital gains tax increase

first_imgSpeaker decides against capital gains tax increaseDemocratic House speaker Gaye Symington disapproved any steps towards changing the current exemption from taxation that Vermont allows on the first 40 percent of taxpayers capital gains. Symington explained her decision was due to the growing uncertainty in the financial world, and asked the House Ways and Means Committee to find an extra $3 million to $5 million in state revenues without enforcing a new tax fee.Symingtons decision ended the legislative session on three proposals for using the $21.4 million that was generated by eliminating the 40 percent exemption in new state revenues, which included her own initial plan. Her suggestion involved dividing the revenue three ways: $4.2 for targeted property tax relief, $8 million for the town highway and bridge program and $7 million to repay part of the $55 million owed by the state for school construction projects.The debate over the capital gains exemption started this past January when Governor Douglas suggested eliminating it and using the new revenue to offset reductions in income tax rates for middle and upper class residents. In a released statement the governor said, Vermont is one of only a few states where a working person making $50,000 a year pays nearly 50% more tax than someone who does not work and collects investment or trust fund capital gains income in the same amount. It is wrong for our tax system to have higher rates for working Vermonters.Douglas also explained that his commonsense reforms would permanently lower the income tax burden on more than 70,000 middle income taxpayers and save the average household up to $500 per year.”The governor’s capital gains proposal was purely a tax fairness proposal,” said Tax Commissioner Tom Pelham.The administration fully supported Symington’s decision to abandon her original plan to spend the money, even though it meant the governor’s plan died, too-a decision that would increase income taxes by more than $21 million.The controversy over the exemption wasnt solely based on how the money should be used. Lawmakers from both parties were anxious over the impact of eliminating the exemption.Rep. Rick Hube, Republica-South Londonderry explained that a small number of people pay a significant percentage of the income taxes the state collects. “The last thing we can do is jeopardize those individuals staying in Vermont.”Senator Hinda Miller, Democrat-Chittenden, explains that if the exemption is eliminated “it is going to cut down the equity capital coming into this state for entrepreneurial startups. These entrepreneurial startups are our hope for job creation.”Any House proposal eliminating the capital gains exemption faced a possible opposition in the Senate, despite the wish of the Senate Transportation Committee to use the money to address the shortfall for this years road and bridge budget. House Ways and Means Chairman Michael Obuchowski, Democrat-Rockingham, said it was important to maintain and save this potential revenue source in case of a deficit next year.”We’ve seen numbers for fiscal 2010 that project as high as an $80 million deficit,” Obuchowski said. Obuchowski said the committee would begin its search immediately for the extra revenues Symington requested.One source might be a change in a calculation of capital gains that allows some filers to show negative income. That change could generate $1.5 million to $1.9 million.House Republican leaders would prefer that the Legislature write a budget without finding extra revenue.last_img read more

Continue reading

New Program Makes Available $2 Million in Low Interest Loans for Home Energy Improvements

first_imgNew Program Makes Available $2 Million in Low Interest Loans for Home Energy ImprovementsState Treasurer Jeb Spaulding will announce September 17, 2008, a new low-interest home loan program that will make available $2 million to Vermont homeowners seeking to weatherize their homes and reduce energy costs. Joining Spaulding will be TD Banknorth President Phil Daniels, Efficiency Vermont Director Blair Hamilton and Burlington homeowner Bob Poczabut.The new program can potentially provide very low-interest loans to weatherize approximately 800 homes, depending on the loan amount granted. Efficiency Vermont also will announce a limited time offer associated with the program that will further help defray homeowner costs for undertaking comprehensive weatherization improvements. In addition to weatherization projects, the new program will provide low-interest loans for the replacement of old, inefficient heating equipment.For More Information: Lisa Helme, Director of Financial Literacy & Communications, Office of the State Treasurer, (802) 828-3706, email: lisa.helme@state.vt.us(link sends e-mail)last_img read more

Continue reading

Governor Douglas will host White House Forum on Health Reform

first_imgAt the request of President Barack Obama, Governor Jim Douglas will host one of five regional forums on health reform at the University of Vermont s Davis Center on Tuesday, March 17.  Governor Douglas will be joined by Governor Deval Partrick (D-MA), officials from the Obama Administration and other guests to discuss health care reform. This is a great opportunity for Vermont to showcase our groundbreaking efforts on health care reform to our region and the nation, Governor Douglas said.  By focusing on prevention to lower cost and increasing access to health care for more residents, Vermont continues to lead the nation on this important issue, he continued.The regional forum on health reforms is part of a nationwide effort by President Obama to bring the health care discussion to all areas of the country. Lowering the cost of health care for all Vermonters, indeed all Americans, is a goal I share with our partners in Washington and my fellow Governors throughout the country, the Governor said. Source: Office of the Governorlast_img read more

Continue reading

Vermont Chamber Hospitality Council announces 2009 award winners

first_imgThe Vermont Hospitality Council, the tourism division of the Vermont Chamber of Commerce, is pleased to announce the winners of the five highly anticipated Vermont Hospitality Awards.  This year’s recipients are:Borden E. Avery Innkeeper of the Year: Bud McLaughlin & Bill Wolfe, Holiday Inn, Rutland. This award is the Vermont hospitality industry’s most prestigious award, designed for individuals who have held long time, high profile positions in the state’s tourism industry. McLaughlin and Wolfe, Vermont Chamber members for 36 years, remain extremely hands-on in the day-to-day management of their Holiday Inn and maintain a strong commitment to further educate and train their staff members. B&B Innkeeper of the Year: John Perkins & Jay Kerch, The Phineas Swann B&B Inn, Montgomery Center. This award is designed for individuals who continue to demonstrate excellence in the operation and management of a smaller Vermont bed & breakfast or inn. In the past 4 years, Perkins and Kerch have reinvented The Phineas Swann to become a thriving year-round destination choice for travelers to Vermont.Chef of the Year: Chef Gerry Nooney, Sugarbush Resort & Timbers Restaurant, Waitsfield. This award is designed for an individual with a proven history of supporting Vermont’s agricultural economy through the use of local food and products.  The Chef of the Year also donates time or services to the community at large through the operation and management of a restaurant in Vermont. Chef Nooney continues to prove his support for the state of Vermont by his commitment to creating new recipes using local food and products. He has touched many Vermonters and visitors with his broad, innovative culinary marketing partnerships.Restaurateur of the Year: Suzanne Johnson, Tilley’s Café, Burlington. This award is designed for an individual who continues to demonstrate excellence in the operation and management of a restaurant in Vermont. A marketing expert and innovative entrepreneur, Johnson contributes to the community and supports her staff in improving their service and knowledge. Tilley’s Café is Vermont’s first green restaurant and Vermont’s only restaurant with valet service.Allied Member of the Year: Rochelle Skinner, Vermont Department of Forests, Parks, & Recreation. This award is designed for an individual who goes above and beyond in offering a service that supports the hospitality industry in Vermont. Skinner’s exceptional knowledge and involvement in Vermont’s outdoor recreation industry is an inspiration to park rangers, staff and volunteers whom together champion Vermont’s unparalleled natural resources. The recipients of these awards will be honored at the Vermont Chamber Hospitality Gala, scheduled for Wednesday, September 16 from 5:30 – 10 pm at The Essex, Vermont’s Culinary Resort & Spa.The Vermont Chamber of Commerce, the largest state-wide private, not-for-profit business organization represents nearly every sector of the state’s corporate/hospitality community. Our mission is to create an economic climate conducive to business growth and the preservation of the Vermont quality of life. Source: Vermont Chamber of Commercelast_img read more

Continue reading

Weekly unemployment rates increase slightly

first_imgFor the week of August 7, 2010, there were 678 new regular benefit claims for Unemployment Insurance, an increase of 21 from the week before. Altogether 9,175 new and continuing claims were filed, a decrease of 246 from a week ago and 3,629 fewer than a year earlier. The Department also processed 2,840 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 11 more than a week ago. In addition, there were 1,591 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 178 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/(link is external). Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc(link is external)last_img read more

Continue reading

Vermont’s Jasper Hill wins ‘Tastie’ cheese award

first_imgThe October issue of Cooking Light (www.CookingLight.com(link is external)) features the brand’s first-ever Taste Test Awards ‘ “The Tasties.” The editors tested 200 food products and came up with the best-tasting winners in 32 categories. Twenty-six of the categories feature grocery store products while six showcase artisanal standouts. The issue hits newsstands September 17th. Vermont’s Cellars at Jasper Hill Cabot Clothbound Cheddar won in the artisanal cheese category.To qualify in the grocery categories, foods had to be available in major markets nationwide. Cooking Light vetted products against nutrition standards, eliminating those that contained artificial trans fats, too much salt, or artificial sugars. The panel of editors tasted finalists “blind:” the tasters did not know which brands they were sampling. Not all products are low fat. Some higher fat items are on the list because of their superior quality and taste. Used moderately, these products have a place in a healthy lifestyle. In each category, one Grand Prize Winner (GPW) is selected as well as one or more Taste Test Award Winners (TTA).”Our staff spent most of the last year tasting American grocery and artisanal foods for our awards,” says Editor Scott Mowbray. “We ate our way through bread, cereal, and hummus to find products that we felt deserved recognition. We added the artisanal categories because there is so much exciting action in the world of handmade food right now.”The 2010 Taste Test Award Grocery Winners:BEANS, Cannellini:GPW: ProgressoTTA: GoyaBUTTER, Salted Gourmet:GPW: Organic ValleyTTA: LurpakTTA: ChimayBREAD, 100% Whole Wheat:GPW: Rudi’s Organic BakeryTTA: Whole Foods OrganicBUTTER, Unsalted Everyday:GPW: Target Market PantryTTA: BordenTTA: Whole Foods 365 OrganicTTA: Wal-Mart Great ValueCEREAL, Raisin Bran:GPW: Kellogg’s Raisin BranTTA: Fiber One Raisin Bran ClustersGRANOLA, Oat and Honey:GPW: Cascadian Farms OrganicTTA: Whole Foods 365 OrganicTTA: Quaker NaturalHUMMUS:GPW: Tribe ClassicTTA: Athenos OriginalICE CREAM, Light Vanilla:GPW: Turkey Hill Vanilla BeanTTA: Edy’s Slow-ChurnedMAYONNAISE, Canola:GPW: Hellmann’sTTA: Whole Foods 365PIZZA, Frozen Margherita:GPW: Tandoor Chef Naan PizzaTTA: Amy’s KitchenPOPCORN, Light Microwave:GPW: Newman’s Own 94% Fat FreeTTA: Smart Balance Light ButterTTA: Act II 94% Fat Free ButterRICE, Long-Grain Brown:GPW: Lundberg Family FarmsTTA: Arrowhead Mills OrganicRICE, Boil-in-Bag Brown:GPW: Uncle Ben’sTTA: SuccessSALSA, Mild Tomato:GPW: Green Mountain GringoTTA: FronteraTTA: OrganicvilleSAUSAGE, Chicken and Apple:GPW: Lou’s FamousTTA: Al Fresco Sweet AppleSPAGHETTI, Whole Wheat:GPW: Gia RussaTTA: RaccontoTTA: Target Archer FarmsSOUP, Reduced-Sodium Chicken Noodle:GPW: ProgressoTTA: Campbell’s Select HarvestSOUR CREAM, Light:GPW: DaisyTTA: Organic ValleyTTA: Target Market PantrySOY MILK, Plain, Light:GPW: Target Archer FarmsTTA: SilkSOY SAUCE, Lower-Sodium:GPW: KikkomanTTA: Target Market PantryTOFU, Firm:GPW: Melissa’s OrganicTTA: Nasoya OrganicTTA: Tree of LifeTOMATOES, Diced, No-Salt-Added:GPW: Del MonteTTA: Whole Foods 365 OrganicTORTILLA CHIPS, 100% Yellow Corn:GPW: Target Archer Farms OrganicTTA: Tostitos NaturalTUNA, Albacore Packed in Water:GPW: Whole Foods 365TTA: Crown Prince NaturalTUNA, Gourmet, Packed in Oil:GPW: Ortiz Bonito del NorteTTA: CentoYOGURT, Plain, Nonfat Greek:GPW: FageTTA: ChobaniTTA: Voskos OrganicThe 2010 Taste Test Award Artisanal Winners:CHEESELeelanau Cheese Company Raclette, MichiganCellars at Jasper Hill Cabot Clothbound Cheddar, VermontBeecher’s 4-Year Aged Flagship Cheddar, WashingtonMeadow Creek Dairy Appalachian Semi-Soft Raw Cow’s Milk, VirginiaSweetwoods Aged Goat Cheese, New MexicoCONDIMENTSLattin Farms Cantaloupe Jam, NevadaSticky Finger Bakeries Orange Curd, WashingtonBreezie Maples Farm Maple Syrup, New YorkFarmer’s Daughter Hyderabadi Tomato Chutney, North CarolinaHay River Pumpkin Seed Oil, WisconsinLa Nogalera Walnut Oil, CaliforniaMEATTurner Ham House Country Ham, VirginiaTall Grass Buffalo Jerky, South DakotaPork on a Fork Cottage Shoulder Cut Bacon, ArizonaBoccalone Nduja, CaliforniaSalumeria Biellese Wild Boar Sopressata, New YorkSPIRITS AND BEERSCorsair Artisan Gin, TennesseeBlue Corn Brewery Transcendental Tripel, New MexicoStranahan’s Colorado Whiskey, ColoradoDeath’s Door Gin, WisconsinSWEETSSalem Baking Co’s Ginger Spice Moravian Cookies, North CarolinaEffie’s Homemade Corncakes, MassachusettsSweet Margy Tofikomin, IllinoisAlma Chocolate Icons, OregonChocolat Handmade Chocolates, UtahTHE BEST OF THE RESTBrooklyn Brine Co. Fennel Beets, New YorkMcClure’s Spicy Bloody Mary Mix, MichiganFreddy Guys Dry Roasted Hazelnuts, OregonEarly Bird Aloha Recipe Granola, New YorkChimay Red Chile Powder, New MexicoJeni’s Cherry Lambic Sorbet, OhioThe Bamboo Ladies Bamboo Pickles, North CarolinaBelle Chevre Belle and The Bees Breakfast Cheese, AlabamaCajun Grain Brown Jasmine Rice, LouisianaMassa Organics Crunchy Almond Butter, CaliforniaAbout Cooking LightCooking Light is the nation’s number one epicurean brand with the largest audience, most epicurean editorial and the most recipes. Founded in 1987, Cooking Light makes healthy food taste great. Each month, nearly 12 million readers turn to Cooking Light and cookinglight.com for innovative recipes; nutrition advice and food and fitness tips. Cooking Light is published by a subsidiary of Birmingham, Alabama-based Southern Progress Corporation.SOURCE Cooking Light. NEW YORK, Sept. 14, 2010 /PRNewswire/ —last_img read more

Continue reading