Do not forget the annual cost of $18 million to $22 million to run Vermonts state Obamacare exchange, Health Connect! Lots of priorities and less money to pay for them. Lawmakers are grappling with big budget shortfalls and they face one of the toughest fiscal challenges in recent memory. Lawmakers will look over the Governors plans to shave $18 million out of the current budget, after trimming $30 million in July. But $100 million in next years budget needs to be paid for and that could mean tax hikes or program cuts. Lawmakers put the ceremony of the sessions opening behind them this week, turning the page to one of Vermonts biggest challenges: its bank account. First, new members on money committees must mentally grapple with billions in spending as well as the acronyms and jargon that go with it. Vermont Finance and Management Commissioner Jim Reardon walked representatives through the Governors latest suggestion for cutting $18 million from this years budget because tax revenues fell short of last years projections. The same problem already led the Governor to ax $30 million out of the budget in July, the first month of fiscal year 2015....
Posted on: Tue, 13 Jan 2015 00:35:47 +0000
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