Rep. Wood: Legislative session sought transformational change
May 17, 2022 | By Rep. Theresa Wood The 2022 legislative session has wrapped up after passing a $8.3 billion budget.
Ordinarily the budget is the last bill on which the House and Senate reach agreement. However, this year it was the education bill and the revenue bills. Most of the discussion among conference committees and the governor’s office centered on where to make investments with record surpluses and how much money to give back to taxpayers and in what format.
Because of the surpluses in the Education and General Funds, there were a number of proposals on the table. In the end, a combination of tax cuts and investments were agreed to. Specifically, a child tax credit was agreed to providing $1,000 per child aged five and under. It phases out beginning at $125,000 in adjusted gross income. There is also an expansion of the child care and dependent care tax credit, as well as the earned income tax credit. These changes will impact middle- and lower-income Vermonters.
Additional tax reductions to Vermonters will come in $20 million in lower property taxes. Income tax exemptions for Social Security payments were also expanded for single and married filers.
With the potential for the need to address potential toxic PCB contamination in older schools, $22 million was set aside to help school districts with remediating contamination. There was also agreement to fund universal school meals (breakfast and lunch) for one additional year (the federal government has been funding this during the pandemic), at a cost of $29 million. In the meantime, work will continue to find a funding source to potentially make this permanent.
Another area to highlight is the significant investment in the state’s workforce. Nearly $100 million is being invested in order to address the multiple workforce issues across several different economic sectors. Highlights include:
Forgivable loan program of up to $5,000 for college grads agreeing to work in Vermont for two years after graduation
Investments in BIPOC business assistance and help for refugees to enter the workforce
Funds to assist in employment transition for previously incarcerated individuals
Creation of a Vermont Trades Scholarship Program to encourage students to enter trades such as electrical and plumbing
Creation of a Construction and Rehabilitation Learning Program and Revolving Loan Fund to expand opportunities in the construction trades
Emergency grants to increase the number of nurse educators and preceptors
Establishment of scholarship and loan programs to promote nursing and physician assistants
Forgivable loan and tuition assistance to expand mental health and substance use professionals
COVID paid leave program for employers to pay employees who are absent due to COVID-19
Vermont Economic Development Authority short-term forgivable loan program for businesses who have experienced losses due to COVID; previous state/federal COVID assistance will be taken into consideration.
Short term grants for businesses operating in the “creative economy” to deal with losses as a result of COVID
Continuation of the Everyone Eats program for an additional year that provides free meals through partnerships with local restaurants
Expansion of the village and downtown tax credit program
The 2022 legislative session continued to make use of substantial federal COVID relief funds. The above is just a sample of these investments — others include but are not limited to broadband expansion, water quality improvement, rate increases for mental health, disability and long term care providers, child care, transportation and emergency and permanent housing.
The session started and as it ended — the goal was to make transformational changes. History will decide if the choices that were made live up to that goal. Time will tell.
On a personal note, I’d like to thank the residents of this district for reaching out during the session to share your thoughts about various bills and budget priorities. I’d also like to take this opportunity to announce that I am seeking re-election to continue to represent you in Montpelier. It continues to be an honor and a responsibility that I take very seriously.
Rep. Theresa Wood, D-Waterbury, represents the Washington-Chittenden district of Waterbury, Bolton, Huntington and Buel’s Gore. She is vice chair of the House Committee on Human Services.