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Senate finance committee weighs 50% purchase-and-use tax cut for heavy forestry vehicles
Summary
The committee discussed S.46, which would exempt 50% of the purchase-and-use tax on certain heavy vehicles and repair parts used in timber harvesting and transport, with the Joint Fiscal Office estimating about $500,000 in annual revenue loss shared between the transportation and education funds.
The Vermont Senate Committee on Finance on March 18 discussed S.46, a bill that would reduce by half the state purchase-and-use tax for certain motor vehicles and repair parts used in timber cutting, removal, processing or transportation when the vehicle has a gross vehicle weight of 10,000 pounds or more. The committee heard industry representatives and Joint Fiscal Office (JFO) staff explain the scope and fiscal impact of the proposal.
Supporters, including witnesses identified as Dakota and Mattel Hill representing equipment dealers, told the committee that Vermont loggers face higher costs and longer hauls since several local mills closed, and that neighboring states already exempt similar vehicles. “They need these trucks in order to remain competitive in the now regional market,” Michael O’Grady summarized for the record in committee remarks.
JFO fiscal analyst Logan Moberg told members the…
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