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As the election season heats up in Vermont, taxes and the cost of living are at the forefront of voters’ concerns. Vermont Public conducted a poll that revealed that many residents are struggling to afford basic necessities, with Republicans expressing more financial pessimism compared to others. The state has high personal income, corporate income, and property taxes, with sales taxes ranking average among states.
Experts note that Vermont collects the seventh-most revenue per capita in the country, while also spending a relatively high amount on assistance for people in need. Inflation post-pandemic has impacted wage gains, with wages increasing around 4% after adjusting for inflation. The state’s economy is characterized by an aging population, low unemployment, and a diverse range of industries.
Recent decisions by the Legislature and governor have aimed to address rising costs, including property tax bills, retirement plans, child care subsidies, and attempts to regulate prescription drug costs. Candidates in this election season have shared their views on making Vermont more affordable, with discussions on shifting tax burdens, education reform, and wealth taxes.
Voters are encouraged to scrutinize candidates based on their proposals for financial assistance programs, tax changes, and revenue sources. To participate in the upcoming general election on November 5th, eligible voters can register online, in-person, or on Election Day. Options for voting include returning mail-in ballots, early in-person voting, or voting in person on Election Day. For more information on candidates and the voting process, Vermont Public provides a comprehensive guide for voters.
Source
Photo credit www.vermontpublic.org
