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 InBy Amy Ash Nixon Full StoryRICHARD'S POOR ALMANACK: On this day in 410 CE, Visigoths sack Rome and it isn't the first time, either; in 1859, Titusville, Pa., the first commercially viable oil well comes in; in 1918, the only World War I battle fought on U.S. soil in Nogales, Ariz. 0Rutland Herald content editor Rich Alcott uploads data direct to your head: On this day in 410... Full Story
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