Tax deal struck, adjournment looming

MONTPELIER — After a week of veiled veto threats and behind-closed-doors meetings, Gov. Peter Shumlin emerged from his ceremonial office Saturday afternoon with legislative leaders to announced a tax deal — the linchpin paving the way for adjournment.

“I’m really pleased to announce that we’ve reached a deal on the budget that allows us to balance the budget and raise the revenue for the budget in a way that’s not only fiscally responsible but ensures that we can continue to grow this economy for every single Vermont,” Shumlin said, with House Speaker Shap Smith and Senate President Pro Tem John Campbell on either side of him.

unnamedDetails of the $30 million in new taxes raised to balance the 2016 fiscal year budget were to be released later Saturday.

“Everyone has given a little. I think it’s an incredibly sensible plan and most importantly we’re meeting our commitment that we all pledged to keep in this building in January of closing a budget gap by making smart choices for Vermonters and ensuring that our budget is sustainable going forward,” the governor said.

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