PASSED
in the State House of Representatives
on March 24, 2016, by a vote of 94-40
. Purpose: The “Big Bill” This bill sets the state budget for FY17, which begins on July 1, 2016. (Read the Bill) .
Analysis: Those voting YES on this bill approved a total $5.77 billion state budget for FY17. This represents a total increase of 2.7 percent over FY16 (not accounting for adjustments that will occur in the next legislative session.) The $1.47 billion general fund portion of the budget, however, increases by 4.8 percent, while revenue is projected to grow at just 2.2%. This budget also leaves an estimated $30 million hole for the FY18 budget. .
Those voting NO argued that continuing the trend of spending taxpayer dollars faster than revenue comes into the treasury is a recipe for fiscal disaster. .
As Recorded in the House Journal, Thursday, March 24, 2016:“Shall the bill pass? was decided in the affirmative. Yeas, 94. Nays, 40.” (Read the Journal, p. 674-688.)
The Ethan Allen Institute is Vermont’s free-market public policy research and education organization. Founded in 1993, we are one of fifty-plus similar but independent state-level, public policy organizations around the country which exchange ideas and information through the State Policy Network. Read more...
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