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Ways & Means reviews competing tax‑bracket and VIP tax drafts to pay for policy options
Summary
Committee staff presented two competing drafts (5.1 and 6.1) that reconfigure income tax brackets and a Vermont investment proceeds (VIP) tax; members debated rate shifts, timing, confidentiality language and potential revenue stability risks, and asked for Pat’s fiscal tables for quantification.
The Ways & Means Committee reviewed two draft tax packages on April 28 that would shift income‑tax liabilities and fund or offset health‑care proposals before the committee.
A staff presenter described draft 5.1 as increasing how much income falls in the second‑highest bracket while raising the top marginal rate in one version toward about 12.4%. The presenter said the VIP tax (Vermont investment proceeds tax) language in…
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