Scott, Gray team up to oppose military pension tax

File photo
File photo(Courtesy: Vt. National Guard)
Published: Apr. 20, 2021 at 3:15 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

MONTPELIER, Vt. (WCAX) - Vermont Governor Phil Scott says the push for exempting taxes on military pensions goes beyond support for veterans.

The Republican governor teamed up with Democratic Lt. Governor Molly Gray in writing an op-ed urging the Legislature to lift the tax which would cost the state about $3 million a year in revenue. Scott says it’s the right thing to do for veterans but would also help with Vermont’s demographic challenges and bond rating.

“When we had our rating agency calls last week, they continue to be concerned about two issues. One, our unfunded liabilities continues to be an issue. Secondly, our demographics. We need more people coming into the state.” Scott said Tuesday.

Vermont is one of only seven states that does not exempt taxes on military retirement benefits and one of only 13 to not fully exempt social security benefits. The governor says he also favors that move.

Related Stories:

Vt. leaders call to exempt taxes on military pensions

Vt. lawmakers to revisit military pension tax-break

Copyright 2021 WCAX. All rights reserved.