Rep. Pearson introduces bill to place "small" tax on $180-$190 million windfall coming back to Vermont’s weathiest as a result of Congress’ voting to extend the Bush-era tax cuts. Says it could generate $17 million to help protect services and help prevent another request for state employees to do more. If you are single earning $171,000 or more, or married with both earning more than $209,000, this bill will impact you. If not, rest easy.
Today, February 24, Rep. Chris Pearson (P-Chittenden) and Sen. Anthony Pollina (D-Washington) held a press conference in the State House’s Cedar Creek Room to announce that Pearson had officially introduced legislation to place a "small" tax on the $180-$190 million windfall coming back to Vermont’s wealthiest citizens as a result of Congress’ extension of the Bush-era tax cuts. As Pearson explained, the tax would impact only those single Vermonters earning $171,000 or more per year or married couples earning 209,000 or more per year. The two legislators were joined at their press conference by Sen. Dick McCormack and Rep. Susan Hatch Davis, who are co-sponsoring the legislation.
Pearson and Pollina both repeatedly reminded reporters that Vermonters as a whole were solidly behind our state’s congressional delegation’s voiced opposition to the Bush tax cuts being extended at all.
Unfortunately, no bill number has been attached to the Pearson legislation yet, and it’s not expected to have one until next week sometime. However, this should not prevent VSEA members from calling and e-mailing your local Representatives and Senators today to let them know you support the Pearson bill (and soon the Pollina bill, which has to wait because revenue-generating bills must originate in the House).
Pollina told reporters that the Pearson legislation already has 16 co-sponsors and they expect many more to come on board as the bill picks up steam.
VSEA will update members on the bill number, exact language and full listing of co-sponsors once this information is available.