Vt. tax revenues propelled by influx of federal cash
MONTPELIER, Vt. (WCAX) - A windfall of federal cash has helped propel Vermont tax revenues beyond expectations.
Vermont’s General Fund last month raked in $165 million - $33 million more than economists predicted.
The Vermont Transportation Fund totaled $30 million and the Education Fund totaled over $56 million -- also both above expectations.
Governor Phil Scott Tuesday said the strong numbers are good news, but he also cautioned it’s helped by federal money flowing through the economy and likely won’t be around forever. “I just want to keep our eyes wide open, not get too accustomed to this because once the federal money stops flowing in -- it may not be right now, obviously we still have a lot of the ARPA money coming in -- I just want to be careful, that’s all,” he said.
The governor and top lawmakers will be briefed on the state’s fiscal forecast later this week.
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