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CTE Reform Makes Progress

May 4, 2026May 1, 2026

CTE Reform Makes Progress

As Vermont continues to face persistent workforce shortages and growing economic competitiveness challenges, Career Technical Education (CTE) reform has taken on renewed importance as a key part of the state’s long-term strategy.

Legislation advancing through the State House in S.313 reflects meaningful progress toward strengthening Vermont’s CTE system. After initial action in the Senate, the House Commerce and Economic Development Committee advanced a revised version of the bill, now under consideration in the House Education Committee.

The proposal brings together priorities from legislators, the Agency of Education, and the Vermont Association of Career and Technical Education Directors (VACTED), marking a notable step forward on an issue that has seen years of varied approaches. It moves to address longstanding challenges in the CTE system, expanding access, improving consistency in how CTE credits count toward graduation requirements, and creating a pathway and future accountability system moving CTE towards broader finance and governance reform.

This convergence is significant. After years of fragmented recommendations, stakeholders have coalesced around a shared direction that keeps CTE reform moving forward while positioning it to align with broader education reform efforts underway in the Legislature.

From a workforce perspective, the stakes are clear. Strengthening CTE is vital for retaining the students already here and creating clear, accessible pathways into the workforce. The Vermont Futures Project Economic Action Plan identifies workforce availability as a primary constraint on economic growth, driven by demographic decline and limited population growth. Expanding access to CTE and strengthening connections between education and career pathways will be essential to building and retaining a skilled workforce.

While the bill does not yet implement full structural reform, it reflects coordinated progress and growing recognition across the Legislature of the value of CTE and career pathways. The value of CTEs is also reflected in related efforts, such as the proposed hospitality and culinary apprenticeship pilot in this year’s economic development bill, which begins to connect education programs more directly with in-demand careers and highlights how career pathways can evolve to meet workforce needs.

The progress reflected in this bill continues momentum for CTE and sets a foundation for broader reform in future years. As the Legislature continues its work on education policy, building on this collaboration through clear decisions on funding, governance, and system design will be key to strengthening Vermont’s workforce pipeline and long-term economic competitiveness.

May 1, 2026

CONNECT WITH OUR WORKFORCE EXPERT

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Beyond Tax Brackets: How Proposed Tax Changes Impact Vermont’s Businesses, Workforce, and Economy

April 30, 2026April 29, 2026

Beyond Tax Brackets: How Proposed Tax Changes Impact Vermont’s Businesses, Workforce, and Economy

Analysis led by Amy Spear, President, in partnership with the Vermont Futures Project

Overview

The Vermont Chamber of Commerce advances the Vermont economy through advocacy, community, and resources. As part of that work, we analyze how policy decisions intersect with Vermont’s unique economic structure.

A proposal currently under consideration would introduce new tax provisions, including a high-income surtax, an investment proceeds tax, and a minimum tax based on adjusted gross income. While often framed as a tax on wealth, the structure of this proposal means its effects extend well beyond passive income. In Vermont, where the economy is largely driven by locally owned, pass-through businesses, the practical impact reaches into active business operations, workforce competitiveness, and long-term economic growth.

Why This Matters for Vermont

Vermont’s economy is distinct. Most businesses are not large corporations. They are small and mid-sized employers structured as:

LLCs
S corporations
Partnerships
Sole proprietorships

In these models, business income flows through to personal tax returns. That means what appears as individual income is often active business income used to operate and grow a company. Understanding this structure is essential to evaluating how tax policy functions in practice.

A Look at Vermont’s Current Tax Structure

Vermont already has one of the most progressive tax systems in the country.

Vermont ranks near the top nationally in tax progressivity
Higher income earners already contribute a disproportionate share of total income tax revenue
Effective tax rates increase steadily across income brackets

This context is important. The conversation is not about whether Vermont has a progressive system. It already does. The question is how additional structural changes interact with Vermont’s economic realities.

What the Proposal Does

The proposal introduces three major changes:

New surcharge layers on higher income taxpayers
A new tax on certain investment-related gains
A minimum tax requiring taxpayers above a threshold to pay a percentage of adjusted gross income

Unlike traditional tax structures based on taxable income, this approach introduces a minimum tax floor tied to gross income, regardless of deductions, reinvestment, or business expenses. This distinction is critical for Vermont businesses.

The Pass-Through Effect: When Business Income Is Personal Income

For many Vermont employers, income reported on a personal tax return is not discretionary income. It may already be committed to:

Payroll
Equipment and capital investment
Insurance and operating costs
Debt service

For example, a business owner may report strong income in a given year, but much of that income is reinvested into the business to sustain operations and growth. Policies that do not distinguish between passive income and active business income can create outcomes that do not align with how businesses actually function.

Reinvestment and Growth Implications

Business growth in Vermont often depends on retained earnings. When after-tax resources are reduced, businesses may face harder decisions around:

Hiring
Wage increases
Expansion
Innovation

In a state working to grow its economy and address workforce shortages, reinvestment capacity is a key driver of long-term success.

Business Succession and Local Ownership

One of the most significant considerations is the impact on business succession.

When a Vermont business owner retires or sells a company, the transaction often generates capital gains. These are not abstract financial events. They represent years, often decades, of investment and risk.

Changes to how these transactions are taxed can influence outcomes such as:

Whether businesses are transferred locally or sold to outside buyers
The viability of employee or family ownership transitions
The long-term presence of locally rooted businesses

Across industries, from engineering firms to healthcare practices to hospitality businesses, there is increasing pressure from external buyers, including private equity.

When local ownership becomes more difficult to sustain, it can gradually reshape the structure of Vermont’s economy.

Workforce Competitiveness

Vermont is already facing workforce shortages in critical fields, including:

Healthcare
Engineering
Technology

Many of these professions fall within income ranges affected by the proposal. In a competitive regional landscape, policy decisions influence where professionals choose to live and work. Even incremental differences in tax structure can affect recruitment and retention over time.

Economic Stability and Revenue Considerations

A tax system that relies heavily on a small group of high-income filers can introduce:

Revenue volatility
Greater sensitivity to economic cycles
Increased exposure to changes in taxpayer behavior

In a small state, these dynamics can have outsized effects. Long-term fiscal stability is strengthened by broad-based growth that expands the tax base over time.

Affordability and Structural Challenges

Affordability is a central concern for Vermonters. However, it is important to distinguish between redistribution and structural change.

Addressing affordability at its core requires:

Expanding housing supply
Strengthening workforce participation
Managing healthcare costs
Improving economic productivity

These are the drivers that reduce costs over time and support sustainable growth.

Alignment with Vermont’s Economic Strategy

Vermont’s long-term strategy, as outlined in the Economic Action Plan, focuses on:

Growing the workforce
Expanding housing
Increasing business investment
Strengthening competitiveness

Policies that support these goals help build a larger, more resilient economic base. Policies that constrain reinvestment, complicate succession, or reduce competitiveness can move the state in the opposite direction.

A Path Forward

As Vermont continues to evaluate its policy choices, there is an opportunity to align tax policy with long-term economic goals by:

Distinguishing between passive wealth and active business income
Supporting business succession and local ownership
Preserving reinvestment capacity
Evaluating workforce competitiveness impacts

The Bottom Line

In Vermont’s economy, tax policy does not operate in isolation. Because of the state’s reliance on pass-through businesses and locally owned enterprises, changes to personal tax structures can have broad and sometimes unintended effects.

A strong and sustainable Vermont economy depends on policies that:

Encourage growth
Support local businesses
Attract and retain workforce
Expand opportunity over time

THE DATA BEHIND THE ANALYSIS

House Commerce Reviews New Draft of Data Privacy Bill

May 8, 2026April 24, 2026

House Commerce Reviews New Draft of Data Privacy Bill

The House Commerce and Economic Development Committee has begun taking up S.71, Vermont’s comprehensive data privacy bill, signaling the issue will be a central focus in the final weeks of the legislative session. The committee walked through a newly proposed draft, providing the first substantive look at how the House may approach the legislation this year.

S.71 was passed unanimously by the Senate early last year, reflecting a careful approach that aimed to balance strong consumer data protection with the operational realities facing Vermont businesses. When the bill was last taken up in the House at the end of the previous session, a proposal was introduced to strike all of the bill’s language and replace it with a significantly more expansive framework, but no further action followed.

The newly discussed draft continues to include provisions that go beyond what is currently in place in other states, raising significant concerns about regional compatibility, compliance burden, and the potential impact on Vermont’s business competitiveness. These issues are central to the viability of the bill and are expected to require substantial discussion and refinement in the weeks ahead.

The stakes remain high for the business community. Data privacy policy continues to evolve rapidly across states, and the structure of Vermont’s approach will have direct implications for competitiveness, compliance costs, and the ability of businesses to effectively operate in a digital economy. The broader policy context also remains relevant.

Two years ago, a more expansive data privacy proposal was vetoed by Governor Phil Scott due to concerns about its impact on businesses and the state’s economic climate. There has been no indication that the Administration’s position has shifted, underscoring the importance of a pragmatic and durable approach as the House considers next steps.

Importantly, committee leadership has indicated a clear intent to work collaboratively with Vermont stakeholders to refine the bill. That approach comes at a critical point in the session, where timing and policy complexity will require focused engagement to reach a workable outcome.

As deliberations continue, the coming weeks will be critical in determining whether S.71 can take shape in a way that aligns consumer protection with economic realities. The Vermont Chamber and its members have been consistently engaged on this issue and looks forward to continued engagement with the House Commerce and Economic Development Committee to support a balanced path forward that works for both Vermonters and Vermont employers.

April 24, 2026

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Omnibus Economic Development Bill Advances Through Key Committees

May 11, 2026April 24, 2026

Omnibus Economic Development Bill Advances Through Key Committees

With the session entering its final stretch, S.327 is the primary vehicle for economic development policy this year and will return to the Senate following House action.

The legislation reflects a mix of progress and gaps, when measured against priorities identified through the Vermont Chamber’s policy retreats with manufacturers, tourism leaders, and legislators, as well as the data driven recommendations developed from the Vermont Futures Project’s Economic Action Plan and Competitiveness Dashboard.

Key sections of the bill include:

Business Resources and Growth
- Directs the Department of Economic Development to inventory public and private resources available to businesses identify gaps and improve how those tools are communicated to businesses
- Aligns with the Vermont Chamber’s priority to improve outreach and coordination of existing programs, addressing a consistent challenge identified by employers.
Convention Center Task Force
- Extends the timeline and expands membership of the task force studying a statewide convention center and performance venue.
- Continues broader tourism infrastructure discussions, though remains exploratory.
Vermont Employment Growth Incentive (VEGI) Revisions
- Repeals the program sunset but reduces annual allocation cap on incentives from $10 million to $5 million.
- While it provides long-term certainty for VEGI, it reduces a key tool for attracting and retaining business investment without adding a program aligned with current needs.
Culinary and Hospitality Education Study
- Requires a study on rebuilding Vermont’s hospitality workforce pipeline following the closure of the New England Culinary Institute.
- Directly reflects priorities identified through engagement with the tourism industry.
Hospitality and Culinary Apprenticeship Pilot
- Establishes a two-year, multi-employer apprenticeship pilot for the accommodation and food services sector.
- Strong alignment with employer driven solutions to strengthen workforce pathways in a critical sector.
Rural Industry Development Grant Program
- Codifies the program in statute to support business expansion, relocation, and redevelopment.
- Advances broader goals of supporting regional economic growth.
Nickel Rounding for Cash Transactions
- Allows businesses to round cash transactions to the nearest five cents with required notice.
- A technical change providing operational flexibility.
Commercial Property Assessed Clean Energy (C-PACE)
- Establishes a framework for municipalities to create C-PACE districts, enabling access to private financing for energy efficiency and resiliency projects
- Supports business investment in infrastructure and long-term cost management.

S.327 advances several priorities shaped by direct employer engagement, particularly in hospitality workforce development and improving access to business resources. These elements reflect ongoing efforts to better align state programs with employer needs and workforce realities.

The bill also leaves key priorities unaddressed. It does not include reforms to improve permitting and regulatory coordination, which remain among the most frequently cited barriers to business investment. In addition, it does not advance policies to support automation and productivity, both of which are critical in a constrained labor market.

The most significant concern is the direction of the VEGI changes. While the program remains in place, reducing its scale without introducing a modernized alternative limits Vermont’s competitiveness at a time when the state continues to lag behind peer states in economic momentum.

As the bill moves to the House floor next week, attention will focus on final House action before negotiations with the Senate. S.327 represents a meaningful step on several workforce and development priorities, but also highlights the continued need for a more comprehensive approach to economic competitiveness in Vermont.

April 24, 2026

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Economic Momentum in Focus as Lawmakers Examine Vermont’s Competitive Position

April 24, 2026April 24, 2026

Economic Momentum in Focus as Lawmakers Examine Vermont’s Competitive Position

Vermont’s economic competitiveness took center stage in the House Ways and Means Committee this week as lawmakers listened to the Vermont Futures Project present findings from its Competitiveness Dashboard. The dashboard is a compilation of national and regional research, illustrating data sets that provide a clear picture of how Vermont compares to other states and highlights trends shaping the state’s economic performance.

The most striking data point of the research is Vermont ranks 51st in economic momentum, a measure that evaluates population trends, employment growth, business formation, and overall economic performance relative to other states. The ranking reflects a combination of indicators that, taken together, point to a slowing trajectory in key areas that drive long-term growth.

In presenting the data, Vermont Futures Project Executive Director Kevin Chu emphasized these findings are not based on a single metric, but rather a consistent pattern across multiple measures. Vermont is currently the only state experiencing both natural population decline and negative net migration, while also ranking near the bottom in business formation and employment growth. These trends are further compounded by challenges related to cost of living and overall economic competitiveness.

A key theme from the presentation was the importance of focusing on the foundational elements that support economic growth. Housing availability and workforce supply continue to be central constraints. Maintaining a stable population requires sufficient housing to meet changing needs, and expanding the workforce depends on the state’s ability to attract and retain residents.

The data also highlights the broader competitive landscape. Other states are actively investing in strategies to attract talent, support business growth, and expand economic opportunities. In that context, Vermont’s ability to build economic momentum depends on how effectively it aligns its policies and investments to support those same goals. Currently these goals seem unattainable, as the Committee continues to evaluate tax policy proposals that would add barriers to improving Vermont’s economic competitiveness.

While there are no single solutions to these challenges, the Futures Project’s findings reinforced that improving competitiveness will require a coordinated approach. Aligning housing, workforce development, regulatory predictability, and overall economic policy will be essential to supporting sustainable growth and strengthening Vermont’s position in a competitive national environment. As policymakers continue to evaluate proposals, including changes to tax policy, grounding those decisions in data and a clear understanding of the state’s economic trajectory will be critical to building long-term economic momentum.

April 24, 2026

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Tourism Economy Day Brings Business and Policy Leaders Together at the State House

May 4, 2026April 17, 2026

Tourism Economy Day Brings Business and Policy Leaders Together at the State House

On Thursday, April 16, tourism and hospitality industry leaders gathered at the State House to engage with legislators and administration officials to highlight the collective contributions of the visitor economy to Vermont. Tourism Economy Day, convened by the Vermont Chamber of Commerce and Ski Vermont, brought businesses together to advocate for a strong Vermont visitor economy. 

Industry leaders shared perspectives during a joint legislative hearing with the House Committee on Commerce and Economic Development and the Senate Committee on Economic Development, Housing and General Affairs, offering real world insight into the opportunities and challenges facing Vermont’s tourism economy. 

Tourism Economy Day brought together business leaders, legislators, and administration officials, creating space for direct conversation between policymakers and the employers who power Vermont’s visitor economy. Industry voices from across the state shared perspectives rooted in their day-to-day operations and community impact. 

“A thriving tourism economy means vibrant communities and opportunity across Vermont,” said Amy Spear, President of the Vermont Chamber of Commerce. “Tourism Economy Day ensures lawmakers hear directly from businesses. While the industry remains a major economic driver, employers are navigating workforce shortages, housing availability challenges, and rising costs.” 

Business leaders highlighted both the strengths of Vermont’s tourism economy and the challenges facing the industry. Key themes included workforce shortages, housing availability and affordability, healthcare costs, and declining Canadian visitation. Leaders also emphasized the importance of strengthening career pathways in hospitality, from culinary training to management and entrepreneurship. 

“Tourism businesses, including our ski areas, are a key driver of visitation and help support many rural communities across the state,” said Molly Mahar, President of Ski Vermont. “In addition to affordability issues and workforce and housing shortages, businesses also face an inefficient and inconsistent permitting process that adds cost and time to projects, affecting businesses’ ability to grow and remain competitive. Tourism Economy Day ensures those realities are part of the conversation as policymakers look ahead.”

The day’s programming included a joint legislative hearing, a presentation from the Vermont Department of Tourism and Marketing, and a conversation with Lieutenant Governor John Rodgers. 

Commissioner Heather Pelham shared updates on visitation trends, marketing strategies, and the impact of tourism on the state’s economy. The day concluded with an acknowledgment on the House Floor recognizing tourism’s vital role in Vermont and declaring April 16, 2026, Tourism Economy Day. 

Tourism Economy Day highlights the role of tourism in advancing the Vermont economy through collaboration between businesses and policymakers. Vermont’s visitor economy has a $4.2 billion annual economic impact and employs 9% of the Vermont workforce.

April 17, 2026

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Help Shape Vermont’s Business Climate

April 17, 2026

Help Shape Vermont’s Business Climate

We are gathering input from Vermont businesses to identify the most challenging regulations, opportunities for improvement, and ways state policy can better support a predictable, competitive business climate.

Take this one-minute survey to share your perspective. Your input will directly inform our advocacy.

Vermont Chamber of Commerce Mini Survey – Regulations – Fill out form

April 17, 2026

CONNECT WITH OUR POLICY EXPERT

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A Tax Proposal With Broader Implications for Vermont Businesses

April 17, 2026

A Tax Proposal With Broader Implications For Vermont Businesses

A policy framed around who it targets often raises a more important question: how it works. In Vermont, that distinction can change the outcome.

This week, the House Ways and Means Committee continued its review of a draft bill that proposes new taxes on high-income earners, investment proceeds, and income from pass-through businesses. The proposal is framed around higher-income filers, but in practice it reaches many Vermont small businesses because their income is reported through owners’ personal tax returns. In Vermont, business and personal income are closely connected, a distinction is not technical. It shapes how this policy will be felt across Vermont’s economy.

The Vermont Chamber testified before the Committee on this proposal and submitted a detailed white paper outlining how the bill functions within Vermont’s business structure. That testimony focused on the interaction between the proposal and Vermont’s pass-through business model, particularly in rural regions where locally owned businesses are the backbone of the economy.

At the same time, testimony from other organizations reflected a broader policy conversation.

Proponents argued it would boost tax fairness, respond to federal changes, and raise revenue for public investments, noting that higher-income households often pay a smaller share of their income in state and local taxes and that added funds could help address affordability challenges. Opponents raised concerns about Vermont’s competitiveness, warning that higher marginal rates and new taxes on investment and pass-through income could affect business investment, workforce recruitment, and long-term growth.

Against that backdrop, the question is not only who the bill is intended to impact, but how it operates in practice.

What the Proposal Does

At a high level, the bill introduces three structural changes to Vermont’s tax framework:

New surtax layers on higher-income
A 3% minimum tax floor based on adjusted gross income (AGI)
A new tax on investment proceeds

Individually, each of these is significant. Together, they represent a shift in how income is taxed in Vermont. Notably, the minimum tax floor is tied to adjusted gross income rather than taxable income. That distinction is central to understanding the bill’s broader effects.

Why It Reaches Beyond Wealth

The proposal is framed as targeting wealth; however, in Vermont, that framing does not fully capture how the policy operates.

Most Vermont businesses are not taxed as traditional corporations. They are pass-through entities, including LLCs, S corporations, partnerships, and sole proprietorships. In these structures, business income flows directly onto the owner’s personal tax return.

That means changes to personal income tax policy often function as changes to business taxation. This includes many of the businesses that define Vermont’s economy:

Farms
Inns and lodging businesses
Contractors and trades
Small manufacturers
Specialty food producers

This structure is especially common in rural Vermont, where locally owned businesses are often the primary employers in a community.

The AGI Constraint

One of the least visible but most consequential elements of the proposal is the 3% minimum tax floor based on AGI. AGI is an accounting measure. It reflects income before many real-world obligations are accounted for. For pass-through businesses, income reported on a personal return may already be committed to:

Payroll
Equipment replacement
Debt service
Reinvestment into operations

This creates the potential for tax liability that does not align with available cash. For businesses with narrow margins, seasonal cycles, or high reinvestment needs, that distinction becomes particularly important.

Business Succession and Capital Gains

The proposal also introduces a new tax on investment proceeds. According to the state’s analysis, capital gains represent a significant share of that tax base. In Vermont, capital gains are not limited to passive investment activity. They are often tied to business succession.

When a business owner retires and sells a company, those proceeds typically represent:

A lifetime of reinvestment
A transition to new ownership
The continuation of a local employer

Changes to how those transactions are taxed can influence whether businesses are transferred locally, sold to outside buyers, or closed altogether. In rural communities, where businesses often serve as economic anchors, those outcomes carry broader implications.

Context Matters

This proposal does not exist in isolation. Vermont already has one of the most progressive tax systems in the country. At the same time, the state ranks near the bottom nationally in economic outlook. That combination shapes how policy changes are absorbed.

In a state working to grow its workforce, expand housing, and strengthen long-term economic capacity, the structure and impact of tax policy matter.

Affordability and Outcomes

The proposal is often discussed in the context of affordability. However, it does not directly address the primary drivers of cost:

Housing supply
Workforce availability
Healthcare costs
Childcare access

At the same time, it may influence:

Business reinvestment
Workforce recruitment
Ownership succession

Redistribution and structural affordability are not the same.

The Bottom Line

In Vermont’s economy, this bill would function more broadly than a tax on wealth. It reaches into active business income, business transitions, and the employers that sustain communities across the state. As policymakers continue to evaluate the proposal, the focus should remain on how it operates in practice.

Because in Vermont, structure determines outcome.

April 17, 2026

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S.325 Testimony Reflects Rising Concern Over Act 181 Implementation

April 10, 2026

S.325 Testimony Reflects Rising Concern Over Act 181 Implementation

The House Environment Committee spent the week taking extensive testimony on S.325, hearing from a wide range of stakeholders. A clear theme emerged: growing concern with how Act 181 is being implemented.

While S.325 to date has focused on timing and technical fixes, the conversation quickly shifted to broader issues of trust, process, and how land use decisions are experienced on the ground.

Act 181 was designed as a collaborative, bottom-up effort, but testimony highlighted a disconnect between that intent and a more top-down implementation, particularly in rulemaking and mapping, where stakeholders were considered only advisory and public engagement happened too late. These conversations ultimately raised further questions regarding land use decisions.

In testimony this week, the Vermont Chamber supported key elements of S.325 that support greater clarity and stability in implementation, including:

Maintaining interim housing exemptions to avoid disruption
Improving clarity and predictability in Act 250 jurisdiction
Continuing progress on Tier 1 designations

The Vermont Chamber supported provisions in S.325 that improve clarity and stability, including maintaining interim housing exemptions, clarifying Act 250 jurisdiction, and advancing Tier 1 designations. At the same time, concerns centered on the role and approach of the Land Use Review Board.

Testimony also signaled a shift in thinking, extending timelines to fix the broken process may no longer be enough to rebuild trust. Alternatives discussed included moving away from the current tiered mapping approach, expanding community-driven engagement outside of the land use review board, and refocusing the Land Use Review Board on consistent, predictable Act 250 administration.

As part of that discussion, a different path forward was raised:

Stepping away from the tiered mapping approach and rulemaking under the Land Use Review Board
Establishing a broader intentional community engagement effort to answer the questions at the core of protecting natural resources through a trusted community development organization
Refocusing the Land Use Review Board on administering Act 250 to ensure a process that is predictable, fair, and timely statewide

S.325 is no longer strictly a technical bill—it has become a focal point for a broader conversation about land use, implementation, and trust in Vermont.

April 10, 2026

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If Decisions Don’t Get Made

April 10, 2026

If Decisions Don't Get Made

As the legislative session nears adjournment, attention is on what will pass—the budget, the yield bill, the final numbers. But a more consequential question is: what if they don’t?

The impacts aren’t theoretical. Without a signed budget, Vermont risks partial shutdowns, disrupted payments, and long-term credit effects. Without a yield bill, default property tax rates could trigger sharp increases—42.4% for nonhomestead and 13.7% for homestead, about $325 million more than needed for the Education Fund and leaving school districts, employers, and property owners without legislative adjustment to these costs.

This uncertainty doesn’t stay in Montpelier. It stalls planning, delays hiring, and pauses investment—not from lack of will, but lack of clarity. Timing matters. Early decisions create stability; late ones create pressure; no decision creates uncertainty—compounding Vermont’s fiscal and affordability challenges.

These bills are also signals—about alignment, decision-making, and predictability. Over time, those signals shape whether businesses expand, invest, or look elsewhere. The final days of session aren’t just procedural—they influence confidence in Vermont’s economic environment.

It is important to focus on what policy decisions mean in practice—connecting them to real business impacts and advancing a more predictable, affordable future. The budget and yield bill will pass. The question is how: on time with clarity, or late with ripple effects beyond Montpelier.