Vermont debt could be growing faster than revenue

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MONTPELIER, Vt. (WCAX) Vermont's debt could be growing faster than revenue.

Categories the finance commissioner says will go up in 2020 include pension plans for teachers and state workers, medical benefits for retired teachers and debt service payments. That comes out to a $40 million total increase in debt commitments compared to only $33 million in projected revenue.

"Much of that additional revenue will be applied toward additional liabilities that the state has. I should say an increase in liability payments that the state has-- most notably our pension funds," said Adam Greshin, the commissioner of the Vermont Department of Finance and Management.

The total payment to the teacher retirement fund in the fiscal year 2020 will be $126 million.