Revenue from fed aid will bail out state budget deficit, economists say - VT Digger

Remember when the Legislature had to scrimp, save and tax its way out of the budget deficit? No worries this year, thanks to a huge tax revenue boost from federal "pandemic recovery" largesse.

“What we’re seeing is the impact of a phenomenal amount of federal deficit spending to offset the pandemic — levels of spending that have never in the history of this nation been put into effect,” said Tom Kavet, the Vermont Legislature’s economist, who detailed the latest revenue projections to Vermont’s Emergency Board on Tuesday."

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  • David Flemming
    published this page in The News 2021-01-20 17:25:19 -0500