Lawmakers Near Approval of 13 Million Tax Cut Package for Vermonters

State lawmakers are days away from advancing a $13 million tax cut package aimed at making life more affordable for Vermonters. The political compromise has tax breaks for over 75,000, including military retirees, families with young children, Social Security recipients, unpaid family caregivers, and low-income workers. The package also increases the income threshold for a partial Social Security exemption by $5,000 — up to $65,000 for individuals and $80,000 for couples. There is also relief for young families. Parents will receive checks for $1,000 per child up to age six. The compromise measure is a direct result of last November’s elections and the shift in power at the Statehouse, with some items containing priorities of Democrats and of Republican Governor Phil Scott.