Vermont officials get revenue updateJuly 23,2013The Associated Press
MONTPELIER — Two consulting economists say Vermont’s revenue forecast is improving, with the general fund and transportation fund expected to be up in fiscal year 2014.
The economists recommended to lawmakers and the governor on Tuesday an increase of 3 percent in the general fund to $4 million for the fiscal year and a 7.4 percent upgrade to the transportation fund to $17.2 million from their January forecast.
But the economists recommended downgrading the education fund by 3 percent or $500,000.
Economist Thomas Kavet says the state ended the fiscal year 1.5 percent above expectations. But he said the economic recovery has been slow.
He says the state would normally be having accelerated rates of growth at this stage but says it’s not because of “headwinds that exist from federal fiscal policy.”MORE IN This Just InRICHARD'S POOR ALMANACK: On this day in 1898, Nelson Miles leads American troops into Puerto Rico during Spanish-American War, Bob Dylan electrifies Newport Folk Festival in 1965, author and longshoreman Eric Hoffer born this day in 1902. 0Rutland Herald content editor Rich Alcott uploads astronomic,historic and epigrammatic data... Full Story
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