Would Vt. tax plan hurt small businesses and consumers? - WCAX.COM Local Vermont News, Weather and Sports-

Would Vt. tax plan hurt small businesses and consumers?

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MONTPELIER, Vt. -

Vermont taxes will climb higher under a state budget plan under consideration in Montpelier.

The House-passed plan would raise income taxes, meals taxes and cigarette taxes, and extend the sales tax on all clothing, candy, soda and other products. Those changes are expected to raise $25 million-$30 million to plug a hole in the budget. Lawmakers are also considering separate hikes in property and gasoline taxes.

The National Federation of Independent Business says the hikes will hurt small businesses and consumers.

"NFIB's concern is the multitude of taxes, the cumulative impact of the tax package that is going to hit small businesses the hardest. So, when you put pressure on small businesses, you're putting negative pressure on those creating jobs," said Shawn Shouldice of the National Federation of Independent Business.

Shouldice says the need for more revenue stems from the state's over reliance of federal dollars which are drying up.

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