The Vermont Chamber of Commerce believes that budgetary decisions, both taxing and spending, should encompass a strategic plan for economic development and the needs of Vermonters. Both state and federal budgets should reflect the need for investment in areas which will create jobs and reduce Vermont’s high tax burden. Taxation must be equitable and competitive with other states, and the state budget should be predictable, sustainable and understandable to all taxpayers.
The Vermont Chamber of Commerce also believes that a sound fiscal policy is necessary to maintain a strong business climate, enhance economic growth and provide good jobs for Vermonters. The direct correlation between tax policy and the cost of doing business in the state is a major factor in decisions to relocate a business to this state, or to continue operating a business in Vermont.
The Vermont Chamber supports:
- Efforts to oppose tax increases or new taxes because of the demonstrated adverse effect on the economic development and business growth. The more taxes a business pays, the fewer financial resources are available to grow the business and create more jobs;
- Efforts to make our tax policy more competitive with surrounding states;
- A tax policy that seeks to lower taxes on businesses;
- Avoiding state mandates on businesses;
- The development of a state tax policy that retains and encourages business investment such as phasing out the corporate income tax;
- The retention of the research and development tax credit as an incentive for companies to continue investing in Vermont; and
- A restructure of the personal income tax by shifting from federal taxable income, to a model of adjusted gross income.
Read more:
- 2012 - View the Vermont Chamber's Testimony on Cloud Computing (H.757)
- 2012 - View our position and advocacy work on tax enforcement
- 2011 – View a summary of the Misc. Tax Bill and other tax changes made during the 2011 session
- Vermont Department of Taxes