FAILED
in the State House of Representatives
on April 15, 2021, by a vote of
55-79
Purpose: The underlying bill would exempt the first $10,000 of military pensions from the state income tax. The Sibilia Amendment attempted to increase the exempt amount to $30,000.
Analysis: Only three states currently tax fully military pensions, and Vermont is one of them. Nine states don’t tax military pensions at all. The $10,000 exemption level would provide retirees with approximately $100 annual tax benefit. The $30,000 level would provide the most fully vested retired enlisted soldiers (22 years/Master Sergeant) with an approximate annual tax benefit of $395. Officers could receive up to approximately $1000 annual benefit.
Those voting YES supported the higher ($30,000) exemption for military pensions to show respect for those who have served and to bring Vermont tax policy more in line with other states.
Those voting NO, opposed the higher ($30,000) exemption for military pensions citing other priorities for the revenue which would otherwise not be collected, and a desire to maintain “progressive” tax policy.
As Recorded in the House Journal, Thursday, April 15, 2021: “Shall the report of the Committee on Ways and Means be amended as offered by Rep. Sibilia of Dover and others?, was decided in the negative. Yeas, 55. Nays, 79." (Read the Journal, p.642 - 645).
Watch the floor debate on Youtube.
How They Voted
(Click on your Rep’s name to send an email)
Sally Achey (R - Middletown Springs) – YES |
William Lippert (D – Hinesburg) – NO Curtis McCormack (D – Burlington) – NO Kirk White (P/D - Bethel) – NO Rebecca White (D – Hartford) – NO Dane Whitman (D - Bennington) – NO Terri Lynn Williams (R - Granby) – YES Theresa Wood (D – Waterbury) – NO David Yacovone (D – Morristown) – NO Michael Yantachka (D – Charlotte) – NO |
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