January 17, 2025 - Vermont Chamber of Commerce

Vermont Chamber Advocates for Economic Growth and Housing Solutions

The Vermont Chamber advocacy team engaged with both House and Senate committees to outline priorities aimed at fortifying Vermont’s economy. Discussions centered on housing affordability, workforce challenges, regulatory reforms, technology, and positioning Vermont as a premier relocation destination.

Tourism and manufacturing were highlighted as economic pillars, each contributing $3 billion annually and employing thousands of Vermonters. The Chamber’s Foundation, the Vermont Futures Project, was spotlighted for its focus on long-term economic planning, ensuring these critical sectors continue to drive statewide prosperity.

Housing availability and affordability took center stage as a pressing concern. The Chamber will continue advocating for meaningful reforms to reduce construction costs, improve infrastructure, and expand access, emphasizing the importance of addressing Vermont’s demographic challenges and workforce gaps to sustain economic vitality.

The Chamber emphasized the integral connection between business growth and wage growth, presenting data that reinforces the need for collaborative efforts to support businesses. Economic development remains a priority for the Vermont Chamber, and the team is poised to work alongside lawmakers to ensure businesses have the resources and environment necessary to thrive.

To bolster advocacy efforts surrounding technology issues, the Vermont Chamber introduced attorney Josh Diamond from Dinse, who the Chamber has hired on retainer. With his extensive legal expertise and six years of experience as Vermont’s Deputy Attorney General, Josh will provide critical insights and representation for Vermont’s business community on emerging technology challenges.

The team will do additional introductions next week and will dive into expert testimony on legislation. Through proactive collaboration with lawmakers, stakeholders, and industry leaders, the Vermont Chamber continues to champion policies that advance Vermont’s economy and enhance quality of life for all.

January 17, 2025

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Laying the Groundwork for Education Finance Reform

Legislative committees discussed Vermont’s education finance system this week, emphasizing the complex ties between funding, governance, and education quality, and the need for reforms both to address these challenges and tackle high costs head on. While awaiting the Governor’s proposed education finance reforms in the January 28 budget address, House and Senate committees reviewed the current funding system, its formula, and potential improvements.

Elements of the Governor’s proposal were previewed by members of his administration and included simplifying tax structures, recalibrating the Common Level of Appraisal, and ensuring taxpayer capacity aligns with funding obligations. Testimonies from the Department of Taxes and the Agency of Education also emphasized the need for a more streamlined and transparent system. Proposals for statewide teacher contracts and construction aid policies further underscored the need for cohesive, statewide strategies that will reduce costs and increase affordability.

One proposed funding formula, informed by models from states like Massachusetts and Maine, aims to establish a base funding amount per student, with adjustments for factors like school size, cost of living, and student needs. Legislators discussed implementing the formula in Vermont, focusing on the base amount, property taxes, and teacher compensation.

Continued, focused dialogue among the legislature, educational leaders, and other stakeholders will be a priority this session. Addressing the large-scale systemic issues is crucial to reforming Vermont’s education system to ensure both affordability and sustainability.

January 17, 2025