So when our politicians want to get elected they tell you we are all for improving the economy and we need jobs and businesses back in Vermont. Of course once they get to Montpelier they do this: Committee Gives Preliminary Nod to Increasing Commercial Tax Rates The House Ways and Means Committee discussed setting the property tax rate for next year, and altering the education funding formula. After reviewing the results from Town Meeting, the Committee found that average school budget increase was 3%, not the anticipated 3.8%. So the Committee reduced the residential rate increase from the Administrations recommended 7-cent increase to 4 cents. The Committee agreed to increase commercial property tax rates 8 cents, representing a 5.5% increase. The Committee is also considering proposals that that would lower the income sensitivity cap, transfer unreserved and undesignated balances from the General Fund to the Education Fund, limit school spending increases and change the eligibility criteria for income sensitivity provisions AND THIS: Unemployment Insurance Bill Passes House A bill that would make changes to unemployment insurance laws passed the House, allowing qualified individuals to keep more money they earn from part-time work while they collect UI, reducing benefits dollar-for-dollar for earnings beyond 50 percent of the weekly benefit, and allowing individuals to keep 50 cents on every dollar after that. The bill also requires businesses to file quarterly wage reports to the Department of Labor electronically, unless circumstances prevent otherwise. As the bill moves into the Senate, the Vermont Chamber will continue to advocate for a balance between incentivizing individuals to find work and proper management of the UI trust fund. AND THEN THIS: Public Hearing on Minimum Wage Increase In response to the Governors announcement that he supports a $10.10 per hour minimum wage, the House General, Housing and Military Affairs Committee began taking testimony on a proposal that would raise the wage to $12.50. The Committee heard from legislative economist Tom Kavet who outlined the potential impacts of passing an immediate wage hike of $12.50. These include the loss of 3,200 jobs (1% of total employment) and a reduction of Federal transfer payments that could total $35 million. Understanding that the wage hike proposal is on the fast track, the Vermont Chamber has suggested: • Eliminating the annual cost of living increase completely; • Ensuring that high school students remain exempt from any changes; and • Implementing a training or probationary wage over a limited period of time to allow employers to take a risk in hiring less skilled workers for those just entering the workforce. Still in question is the treatment of tipped wages, and the possibility for a small business exemption. The Vermont Chamber will testify before the Committee to discuss these suggestions next week. If you have thoughts or concerns about this proposal, I could go on and on and on but you get the point. THEY LIE TO GET YOUR VOTE.
Posted on: Fri, 21 Mar 2014 20:17:42 +0000
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