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Issue Updates from the State House | Week of January 6, 2026

January 9, 2026January 9, 2026

Issue Updates from the State House

Week of January 6, 2026

A weekly snapshot of key legislative activity impacting Vermont’s business community.

Groundwater: The Legislative Committee on Administrative Rules approved a rule change tightening groundwater enforcement standards for certain PFAS chemicals. The new rules exclude wastewater, stormwater, and sewage, but stricter standards could affect businesses with indirect discharge permits or other PFAS-related discharges.
Electricity Storage: The Legislative Committee on Administrative Rules approved a new rule establishing guidelines for energy storage.
Budget Adjustment Act: Legislators heard testimony as part of the annual Budget Adjustment Act process, an annual mid-year adjustment to the current budget. In a letter to House and Senate Appropriations committees, the Governor emphasized preserving as much of the $75 million surplus as possible to help offset a projected 12 percent property tax increase in the upcoming budget cycle.
Noncompete: The House Commerce and Economic Development committee reviewed findings from the Non-Compete Agreements Study Committee, which concluded that non-compete agreements are appropriate for high-wage employees with access to proprietary information. The Vermont Chamber will work to ensure any legislation preserves employers’ ability to protect sensitive business information.
Franchisors: The House Commerce and Economic Development Committee heard testimony on potential regulation of franchisors. Vermont lacks data on the number and structure of franchises operating in the state, making it difficult to assess the scope or justify a new regulatory program.
Event Ticket Marketing: The House Commerce and Economic Development committee resumed testimony on H.512, a bill aimed at reining in the marked-up resale of event tickets. The Vermont Chamber will continue to closely monitor this issue as the bill develops.
Rural Health Care: The House Health Care Committee heard testimony on the federal Rural Health Transformation Program grant, which will provide Vermont with $195 million annually for the next five years. The funding will support rural hospital improvements, bolster the rural health workforce, and modernize rural health systems.
Convention Center Task Force: The House Commerce and Economic Development and Senate Economic Development Housing, and General Affairs committees reviewed the Convention Center Task Force report, which identified Burlington as the most feasible location for a convention center after input from industry stakeholders. Securing a viable funding model remains a significant challenge.
Transportation Fund: The House Ways and Means and House Transportation Committees heard testimony on growing shortfalls in the Transportation Fund. Without increased funding, Vermont risks losing federal match dollars, and over 50 percent of state-maintained roads are projected to fall into poor or worse condition within the next five years.
Community and Housing Infrastructure Program (CHIP): The House Commerce and Economic Development and House General and Housing Committees heard testimony on the rollout of the Community and Housing Infrastructure Program (CHIP), established last session. The program allows municipalities and qualified sponsors to invest in infrastructure that supports housing development, with applications set to open at the end of the month.

January 9, 2026

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Setting the Stage for Vermont’s Tax Decisions

January 9, 2026

Governor Phil Scott’s State of the State on January 7 focused on education and Vermont’s affordability challenge, highlighting a growing disconnect between rising costs and student outcomes. With one-time federal funds exhausted and federal uncertainty looming, the Governor emphasized fiscal discipline, accountability, and implementation, particularly in education, as essential to restoring affordability and predictability. The message was clear: Vermont can no longer sustain rising costs without corresponding improvements in outcomes.

As the Vermont Chamber has shared with members and communities statewide, the Vermont Chamber supports policy that leads to strategic growth of people and places. As the state’s largest business advocacy organization, we focus on turning planning into policy and policy into progress. Through the Vermont Economic Action Plan and a data-informed, member-driven legislative agenda, the Chamber continues to advance affordability, opportunity, and long-term economic resilience.

Rising public costs, especially in education, show up in immediate and tangible ways for businesses. Higher property taxes, constrained housing supply, intensified workforce pressures, and increased difficulty planning for the future are now common challenges. The Governor’s call to complete education transformation aligns directly with the Chamber’s first legislative priority, Economic Abundance Through Fiscal Stewardship, recognizing that bending the cost curve frees up resources for housing, infrastructure, and tax relief.

The State of the State made clear that achieving those outcomes will not be easy or smooth. The Governor underscored that completing Act 73, last year’s education reform law, requires meaningful structural change, including district mapping and governance reform. He emphasized that the current system was built for a Vermont that no longer exists and signaled a willingness to use veto authority if reforms stall.

House Democratic leadership, speaking at a press conference, reinforced a shared focus on affordability, housing, health care, and public education, while signaling a more cautious approach to implementation. Speakers emphasized transparency, data review, and continued engagement with Vermonters, noting that many details remain under consideration as the session begins.

Legislative leaders, while reaffirming support for Act 73 and education quality, offered responses that suggested less alignment on timelines and tools. Questions around district mapping, spending thresholds, and property tax relief highlighted early tension with the Administration’s insistence that maps be treated as an essential next step, rather than a longer-term consideration.

While there is broad agreement that change is required, success this session will depend on moving beyond shared diagnosis to shared execution. Education costs ripple through property taxes, housing affordability, workforce availability, and long-term competitiveness, underscoring the Chamber’s priorities around workforce and housing alignment and industry competitiveness.

January 9, 2026

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Setting the Stage for Vermont’s Tax Decisions

January 9, 2026

Setting the State for Vermont's Tax Decisions

This week’s tax hearings and briefings at the State House were largely foundational, but they set the stage for the most consequential fiscal debates of the session. With federal support uncertain, budget constraints tightening, and cost pressures continuing to build, lawmakers are beginning to confront a central reality. Without meaningful cost containment, tax policy will once again become the primary tool for closing budget gaps.

Several interconnected tax issues were discussed this week, including federal conformity, education finance, and Vermont’s existing tax structures. Together, they set the context for a session where fiscal discipline will determine whether Vermont strengthens affordability or compounds existing pressures. Data from the Vermont Competitiveness Dashboard shows that affordability pressures tied to taxes, housing, and workforce availability are already constraining business growth and labor force participation. How lawmakers respond this session will influence whether Vermont closes or widens those gaps relative to peer states.

Federal Tax Policy, Vermont Choices

This week’s joint hearing of House Ways and Means and Senate Finance focused on H.R.1 and the fiscal impacts of its tax provisions. Vermont conforms to the federal tax code selectively, not universally. Changes that affect the calculation of federal taxable income itself generally flow through unless Vermont explicitly decouples, while changes that occur below the line, create new deductions or credits outside taxable income, or are structured differently may not flow through at all without state action. Understanding how and where federal changes apply is central to the tax discussion this session, as lawmakers weigh affordability, predictability, and revenue impacts.

Fiscal analysts noted that accelerated deductions reduce near-term state revenue, prompting discussion about selective decoupling. Provisions such as research and development expensing, interest deductibility, and accelerated depreciation were highlighted because of their fiscal impact.

For businesses, the risk of focusing solely on short-term revenue is significant. Decoupling would raise the cost of investment, increase complexity, and weaken incentives for innovation and expansion at a time when employers are already facing higher interest rates, workforce shortages, and rising costs. Dashboard indicators show that states with stronger investment and productivity growth are better positioned to grow wages, retain workers, and stabilize tax bases over time.

Federal conformity provides predictability and aligns Vermont’s tax policy with national investment signals. Moving away from that alignment would introduce uncertainty and place Vermont at a competitive disadvantage. How lawmakers approach these decisions will be a defining test of whether tax policy this session supports affordability, predictability, and long-term economic growth.

Education Transformation and Vermont’s Tax Outlook

The Governor’s State of the State reinforced a central reality shaping Vermont’s tax outlook. Education spending remains the single largest driver of property tax pressure and broader affordability challenges. Education costs now exceed $2.5 billion annually, a sharp increase over the past decade, with current projections pointing to another significant rise next year. Education is funded not only through property taxes, but also through substantial diversions from sales, meals, rooms, and other taxes. As those costs grow, they increasingly limit the state’s ability to invest in housing, workforce development, infrastructure, and broad-based affordability.

This week also marked the start of formal legislative review of Act 73, the education transformation law passed last session. Committees focused on understanding the structure and fiscal mechanics of the new system, laying the groundwork for more substantive policy discussions in the weeks ahead. Act 73 represents a meaningful structural shift in education finance intended to improve equity and long-term sustainability. Whether it delivers on affordability will depend on disciplined implementation and sustained follow-through.

The December 1 letter provided the baseline for these discussions and formally begins the annual process of setting education property tax rates. While the letter is a forecast rather than a final decision, it shows continued upward pressure on property taxes driven by rising education spending and declining enrollment. For businesses, the key takeaway is that the Yield Bill is where forecasts become tax rates. Decisions about how costs are allocated, whether one-time funds are used, and how nonresidential taxpayers are treated will directly affect employers and shape predictability for the year ahead.

Short-term fixes and one-time funds may soften immediate impacts, but they do not change the underlying cost trajectory. That is why education transformation and cost containment are now central to every tax conversation at the State House and to Vermont’s long-term affordability and economic competitiveness.

The Bottom Line

This week made one thing clear. Vermont is entering a session where tax outcomes will be shaped less by new ideas and more by whether the state can control costs, align with federal policy, and avoid short-term decisions that undermine long-term stability. The Competitiveness Dashboard makes clear that Vermont’s economic challenges are interconnected, and this week’s hearings confirmed that tax policy sits at the center of those dynamics. The Vermont Chamber will continue to engage policymakers with data-informed analysis to ensure tax policy supports affordability, predictability, and a competitive environment for businesses across the state.

January 9, 2026

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Issue Updates from the State House | Week of January 6, 2026

January 9, 2026

State of the State

January 9, 2026

Healthcare Costs and Affordability in Vermont

December 19, 2025December 14, 2025

Healthcare Costs Remain a Central Affordability Challenge for Vermont Employers

As lawmakers prepare for the upcoming legislative session, healthcare affordability remains one of the most significant pressures facing Vermont’s economy. At a recent Legislative All Member Healthcare Briefing, state leaders, regulators, providers, and stakeholders reviewed the current state of Vermont’s healthcare system, which now totals $2.5 billion and accounts for nearly 30 percent of the state budget when federal dollars are included.

The briefing reinforced the reality employers know well. Vermont’s healthcare system is under strain, and costs continue to rise faster than both wages and national trends. Hospitals and insurers remain financially fragile, community-based care gaps are pushing patients into higher cost emergency and inpatient settings, and access challenges persist across the state. Presenters emphasized that Vermont’s comparatively modest premium increase last year was achieved through one-time interventions, including premium buydowns, drug price caps, and budget reductions. These tools cannot be relied on again.

The Vermont Chamber presented on behalf of the business community, underscoring healthcare costs are now among the top competitiveness challenges for employers statewide. Since 2018, health insurance premiums have increased 10 to 15 percent annually, with the average silver plan rising 169 percent. These sustained increases make long term planning difficult and limit employers’ ability to invest in growth, wages, and workforce benefits.

The Chamber also highlighted that Vermont spends 19.6 percent of personal income on healthcare, the highest share in the nation. This cost burden directly affects hiring, retention, and business expansion, reinforcing concerns raised consistently by employers through the Vermont Business Climate Survey.

The following day, the Health Care Reform Oversight Committee met to examine next steps for reform. Discussions focused on regionalization and coordination as tools to reduce duplication, preserve essential services, and improve efficiency through shared purchasing, aligned clinical design, and modernized data systems. Hospitals outlined commitments to significant cost reductions by 2028 while acknowledging persistent workforce shortages and burnout that continue to challenge care delivery.

As Vermont faces impending federal subsidy changes and Medicaid eligibility shifts, there is growing consensus that incremental, structural reforms are needed to stabilize the system over time. The Vermont Chamber will remain actively engaged to ensure that healthcare reforms advance affordability and access while avoiding further cost shifts onto employers and workers who are already carrying a disproportionate share of the burden.

December 14, 2025

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Issue Updates from the State House | Week of January 6, 2026

January 9, 2026

State of the State

January 9, 2026

Education Property Taxes and Affordability in Vermont

December 19, 2025December 12, 2025

Education Property Taxes and Vermont’s Affordability Challenge

Vermont’s education property taxes are projected to rise by approximately 12 percent in 2026, driven by continued growth in school spending and the expiration of last year’s tax buydowns. This increase comes at a time when affordability pressures are already weighing heavily on households, employers, and communities across the state.

Last year’s buydown was adopted with a clear understanding that it would provide temporary relief while lawmakers and the administration addressed the underlying cost drivers in Vermont’s education funding system. That commitment now hangs in the balance. Student enrollment has declined by more than 30 percent over the past two decades, yet education spending continues to rise, pushing per-pupil costs sharply higher.

Gov. Phil Scott has proposed using nearly $75 million in surplus tax revenues for another buydown in the coming year. It’s not yet clear if lawmakers will approve that use of Vermont’s much-needed surplus funds. There is an urgent need for durable, structural reforms.

Without them, cost pressures will continue to shift onto property taxpayers, including Vermont’s employers.

For the business community, these trends are deeply concerning. Employers are being asked to absorb higher tax burdens in a system that is delivering lower outcomes for fewer students. Vermont’s reading and math performance has slipped from among the strongest in the region to the middle of the pack, with recent assessments showing significant declines in key grades. These outcomes raise serious questions about cost-effectiveness, accountability, and long-term workforce readiness.

The business climate data reinforces this concern. According to the 2025 Vermont Business Climate Survey, employers rate the state’s overall business climate just 2.86 out of 5. Respondents cite rising costs, regulatory uncertainty, workforce availability, housing affordability, and taxes as the top constraints on growth. Rising education property taxes directly exacerbate these challenges.

Higher commercial property taxes increase operating costs and rents, tightening margins for small businesses and complicating decisions around expansion and investment. Housing affordability, already identified as a major barrier to recruitment and retention, worsens as property taxes rise, making it harder for employers across all industries to attract and retain workers.

As discussions continue around a “student-first” approach, it is important to ground reform efforts in data and outcomes. Improving educational results, strengthening accountability, and ensuring long-term sustainability must go hand in hand. An education system that serves students well also supports the broader conditions that shape their futures, including a strong economy, housing affordability, access to health care, and a competitive cost of living.

Some proposals would shift more of the education tax burden toward higher income taxes without addressing spending pressures. Without structural reform, these approaches risk further eroding Vermont’s affordability and competitiveness, particularly for skilled and mobile workers.

Last year, the business community successfully opposed a proposed business-only property tax classification that would have shifted costs disproportionately onto employers. As the Legislature revisits education funding, the Vermont Chamber will be watching closely to ensure businesses are not once again singled out to stabilize a system in need of reform.

The Vermont Chamber of Commerce continues to advocate for sustainable, data-informed reforms that address education spending pressures, improve outcomes for students, and protect Vermont’s business climate. Advancing affordability, strengthening the workforce pipeline, and supporting long-term economic vitality must remain central to any education funding solution.

December 12, 2025

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Issue Updates from the State House | Week of January 6, 2026

January 9, 2026

State of the State

January 9, 2026

Choosing Progress: Vermont Chamber’s 2026 Legislative Priorities

December 12, 2025

Choosing Progress: A Unified Path Toward Affordability and Economic Resilience

Vermont can no longer admire the problem. It must act, guided by data, employers, and long-term planning.

Each year, the Vermont Chamber of Commerce sets legislative priorities grounded in one core objective: advancing the Vermont economy. As we enter the 2026 session, Vermont stands at a defining moment. Affordability pressures, demographic decline, and rising operating costs are converging just as our state needs more workers, more housing, and greater predictability to sustain economic growth.

Our work toward long-range strategy began with the Vermont Economic Action Plan, a statewide blueprint shaped by more than 5,000 Vermonters. The plan established a clear vision for a stronger and more affordable future, grounded in data, pairing community insight and measurable targets. It also signaled a pivotal shift in how Vermont approaches economic decision-making. Instead of reacting to problems as they arise, we now have a long-term framework that can guide policy choices and align efforts across the public and private sectors.

This alignment is urgently needed. The Vermont Futures Project’s Competitiveness Dashboard shows Vermont trailing most states in economic outlook, cost competitiveness, and regulatory efficiency. Vermont ranks 49th in Economic Outlook and continues to struggle with slow economic growth, high costs of doing business, and a demographic profile that strains employers and public systems. Results from this year’s Business Climate Survey reinforce this landscape. Employers identified taxes, regulation, labor shortages, healthcare costs, and housing challenges as the most significant barriers to growth.

Many employers voiced concern that the state’s policy direction is disconnected from Vermont’s economic reality, and that they do not feel heard in Montpelier. Business leaders shared examples of policy decisions advancing without a clear understanding of operational impacts. This sentiment reflects a growing disconnect at the same moment Vermont needs alignment around affordability, stability, and long-term economic strategy. It also underscores the essential role the Vermont Chamber plays in bringing employer perspectives to the policy and regulatory tables and ensuring economic policy aligns with economic reality. Addressing Vermont’s challenges requires a sustained commitment to coordinated, data-informed action.

How confident or concerned are you about Vermont’s elected officials understanding of the economic pressures facing businesses?
A post on Datawrapper provided by: https://datawrapper.de

While there is difficult work ahead, progress was made last year on housing infrastructure, workforce programming, and slowing the growth of healthcare costs. While these advances were important, they are not enough on their own. Vermont must shift from episodic decision-making to a consistent, long-range economic strategy. The Economic Action Plan provides that roadmap. Paired with disciplined and transparent leadership, it offers a path toward measurable improvements for both families and employers.

Our 2026 legislative agenda reflects this approach and focuses on four core areas aligned with statewide priorities and employer needs:

Economic Abundance Through Fiscal Stewardship
Vermont must adopt predictable fiscal practices that control cost growth and strengthen affordability for families and employers. With state spending up more than three billion dollars in five years, the need for disciplined decision making is clear.

Regulatory Modernization and Predictability
A modernized regulatory system must support timely housing and economic development. Streamlined permitting and clearer rules will reduce costs, shorten timelines, and restore Vermont’s competitiveness.

Workforce and Housing Alignment
Employers report that workforce pressures and housing shortages remain among their highest concerns. Strengthening recruitment and retention requires connecting training strategies, talent attraction, and coordinated housing solutions.

Industry Competitiveness
Manufacturing, tourism, healthcare, technology, and small businesses all face rising pressures. Strategic investments in infrastructure, innovation, and cost containment will strengthen these key sectors.

As we begin the 2026 session, Vermont faces a choice. We need to shift from a scarcity mindset to an abundance mindset. The path forward requires courage, collaboration, and a commitment to measurable progress. Employers are ready to be partners in this work. Policymakers must be equally ready to align decisions with long-term strategy and economic reality.

Vermont’s future is not predetermined. It is shaped by the choices we make together. The Vermont Chamber stands ready to partner in this work and ensure our state’s economic story continues toward resilience, prosperity, and opportunity for all.

December 12, 2025

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Issue Updates from the State House | Week of January 6, 2026

January 9, 2026

State of the State

January 9, 2026

Vermont Chamber Announces Winners of the Coolest Thing Made in Vermont Awards

November 21, 2025November 20, 2025

Vermont Chamber Announces Winners of the Coolest Thing Made in Vermont Awards

BETA Technologies’ ALIA Aircraft and Hannaford Career Center’s Tiny House on Wheels Named 2025 Winners

The Vermont Chamber of Commerce has announced the winners of the 2025 Coolest Thing Made in Vermont Awards, recognizing the state’s most innovative manufacturers and the next generation of technical talent. The awards were presented during the annual Vermont Manufacturing Summit, the state’s premier gathering for manufacturers from across Vermont, New England, and Canada.

2025 WINNERS
Coolest Thing Made in Vermont
BETA Technologies – ALIA Aircraft: BETA Technologies was selected for its groundbreaking all-electric ALIA aircraft, capable of both conventional takeoff and landing (CTOL) and vertical takeoff and landing (VTOL). Designed and built in Vermont, ALIA represents a fully integrated approach to the future of aviation—from advanced propulsion systems to charging infrastructure. The aircraft embodies BETA’s commitment to safety, sustainability, and innovation, reflecting the global impact of Vermont-grown manufacturing excellence.

“On behalf of our nine hundred plus member team at BETA, we are completely humbled to receive this recognition. Thank you. Katie and I grew up here and knew this is where we wanted to build our business. It took twelve years of pitching the idea of BETA before the first person said yes. At that moment, we decided our strategic advantage would be to be highly vertically integrated and to do it as sustainably as possible. These things echo our Vermont advantage. That is the advantage of thinking differently about how we do things and setting the bar high. We are thrilled to be here, doing all of that for electric aviation with our team here in Vermont,” said Kyle Clark, Chief Executive Officer of BETA Technologies.

Coolest Thing Made by a Career Technical Education or STEAM Program
Patricia A. Hannaford Career Center – Tiny House on Wheels: Students from the Patricia A. Hannaford Career Center received top honors for designing and building a fully functional Tiny House on Wheels, crafted to provide affordable housing for a local resident. The project showcases applied learning, craftsmanship, sustainability, and the community-minded spirit that defines Vermont’s Career Technical Education programs.

“This event highlights the power of CTE in the lives of students, and the importance of CTE for Vermont. The innovation of these kids demonstrates what young people can do when given access to Career Technical Education. CTE is not just a leg up for their future goals, it is a launchpad,” said Nicole MacTavish, Ed.D., Superintendent and Director of the Patricia A. Hannaford Regional Technical School District.

More than sixty submissions were entered by manufacturers and student teams across the state, an impressive reflection of the innovation, creativity, and technical skill that fuel Vermont’s manufacturing sector. From aerospace and advanced engineering to adaptive technology and community driven housing solutions, this year’s entries highlight the sector’s powerful contributions to Vermont’s economic vitality.

“The Vermont Chamber is proud to champion Vermont’s manufacturers, industries that make living, working, and thriving in Vermont possible,” said Amy Spear, President of the Vermont Chamber of Commerce. “The Coolest Thing awards celebrate not only remarkable products, but the skilled workforce, ingenuity, and partnerships that strengthen Vermont’s economy. We are honored to recognize the leaders and students who are shaping the future of manufacturing in our state.”

FINALISTS (HONORABLE RECOGNITION)
Made in Vermont Finalists

Rothspeed – Splitray Supercar: A carbon-fiber reimagining of a vintage Corvette, blending classic design with advanced engineering. Built in Milton, the Splitray showcases world-class performance and the artistry of Vermont’s precision manufacturing.
WheelPad L3C – SuitePAD: A 200-square-foot modular bedroom and bathroom suite that can be attached to an existing home in weeks, providing accessible, dignified housing for those facing mobility challenges. SuitePAD reflects the power of design, compassion, and rural economic resilience.

Career Technical Education or STEAM Program Finalists

Green Mountain Robotics – “Champ”: A competitive 140-pound robot built by FRC Team #9101, demonstrating the strength of Vermont’s growing STEM talent pipeline.
Lyndon Institute – Bridge Barrier: A custom steel safety barrier fabricated by welding students to protect the historic 1878 Miller’s Run Covered Bridge—an example of applied learning and community stewardship.
North Country Career Center – Air Blow Off System: A student-engineered automated air system designed to reduce downtime and operational costs for a local manufacturer.
Patricia A. Hannaford Career Center – Mobility Device for Disabled Children: A student-created adaptive mobility device that transforms a toy car into life-changing technology for a local child.

Celebrating Vermont Manufacturers at the Summit
The Vermont Manufacturing Summit brings together leaders from across the region for two days of global supply-chain matchmaking, policy discussions, workforce innovation, and advanced manufacturing collaboration. The Coolest Thing awards are a cornerstone of the Summit, honoring both the products that strengthen Vermont’s economy today and the students and educators building tomorrow’s workforce.

“Manufacturing is one of Vermont’s most essential economic sectors,” Spear noted. “From aerospace to outdoor recreation to custom fabrication, these employers fuel statewide innovation, create high-wage jobs, and anchor communities. The Summit and the Coolest Thing awards underscore our commitment to supporting this critical sector through advocacy, community, and resources.”

BETA Technologies team holding their Coolest Thing Made in Vermont award alongside Lieutenant Governor John Rodgers and Vermont Chamber President Amy Spear at the Vermont Manufacturing Summit.

November 20, 2025

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Groundwork for Progress: Chamber Retreat Aligns Industry Insight with Advocacy

November 7, 2025November 7, 2025

Groundwork for Progress: Chamber Retreat Aligns Industry Insight with Advocacy

On October 7th, the Vermont Chamber convened legislators and business leaders from across the state for a full-day policy retreat focused on strengthening two of Vermont’s cornerstone industries: manufacturing and tourism. The event focused on aligning state tools, programs, and regulations to better support and grow these sectors, both of which are vital to Vermont’s long-term economic vitality and competitiveness.

With a tight state budget and continued uncertainty around federal funding, a solutions-focused discussion emerged on how to better leverage existing programs, streamline administrative and regulatory processes, remove outdated barriers to growth, and develop a skilled workforce. Participants emphasized the importance of increased collaboration and practical reform as essential to maintaining competitiveness and fostering innovation across industries.

The connections forged during these retreats will guide cooperative, results-driven reforms that strengthen Vermont’s economy while protecting affordability for employers. The insights gained from these conversations will also help inform the Vermont Chamber’s advocacy work in the upcoming legislative session.

Vermont’s fiscal challenges require progress through smart reform and efficiency, not through added costs for families and employers. To move forward, the state must maximize the impact of existing resources, reduce redundancies and roadblocks, and lean into efficiency, maximizing the impact of existing resources, reducing redundancies and roadblocks, and foster growth through strategic investment and meaningful reform.

November 7, 2025

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Upcoming Webinar to Examine Inflation, Interest Rates, and Fiscal Uncertainty

October 22, 2025

Upcoming Webinar to Examine Inflation, Interest Rates, and Fiscal Uncertainty

NBT Economist Kenneth Entenmann to Provide Timely Insights for Vermont Businesses

Montpelier, VT (October 16, 2025) – The Vermont Chamber of Commerce, in partnership with NBT Bank, will host the next Economic Insights webinar on Thursday, November 6, offering Vermont businesses timely, data-driven analysis of the forces shaping today’s economy.

The session will feature Kenneth J. Entenmann, CFA®, Chief Investment Officer and Economist at NBT Wealth Management, who will share his expert analysis of both national and Vermont specific economic trends. Entenmann will examine how inflation, interest rates, and ongoing fiscal uncertainty could affect Vermont’s economy, offering business leaders the context and clarity they need to make informed decisions in a rapidly changing environment.

“At NBT Bank, we know that sound decisions start with strong information,” said Dan Werme, NBT Bank’s Regional President of Vermont. “Through this partnership with the Vermont Chamber, we’re helping business leaders across the state access timely insights that make sense of national trends, translate them into local action and continue driving the economic vitality of our communities.”

“Through this series, the Vermont Chamber is helping businesses cut through the noise and understand what national and state level trends mean for Vermont’s economy,” said Amy Spear, President of the Vermont Chamber of Commerce. “By partnering with NBT Bank, we’re delivering analysis that is clear, actionable, and directly relevant to Vermont businesses.”

What participants can expect from the November 6 session:

Federal Government Shutdown Impacts:What national fiscal uncertainty could mean for Vermont businesses.
Inflation and Interest Rates:How Federal Reserve policy is shaping borrowing costs and investment decisions.
Consumer Spending Trends:Insights into national patterns and what they signal for Vermont’s service and tourism economy.
Labor Market Dynamics:The latest employment data and its implications for Vermont employers.
Energy and Business Costs:Understanding the market forces driving price volatility and how it impacts operations locally.

The Economic Insights webinar series is part of the Vermont Chamber’s ongoing commitment to advancing the state’s economy through advocacy, community, and resources. Each session delivers clear, data-informed strategies to help businesses remain resilient and responsive amid changing economic conditions.

Registration is free and open to all Vermont businesses. Register here. Attendees are encouraged to share questions or topic ideas in advance to help shape the conversation.

October 22, 2025

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Issue Updates from the State House | Week of January 6, 2026

January 9, 2026

State of the State

January 9, 2026

Transportation Fund in Disrepair

September 25, 2025

Transportation Fund in Disrepair

Last week, the Joint Transportation Oversight Committee met to confront sobering projections for Vermont’s Transportation Fund and a recission plan for current reduced FY26 estimates. The fund is facing a widening deficit that may require cuts to core programs and critical maintenance, with consequences for road quality, safety, and the economy.

According to the Joint Fiscal Office, transportation revenues are projected to grow at just 1.6% in FY26, well below the projected rate of inflation. Structural challenges drive this stagnation: fuel taxes are tied to consumption, and greater vehicle efficiency and electric vehicle adoption exacerbate this decline in revenue. Tariffs on steel and other construction materials are also inflating costs, and a projected $33.4 million shortfall by FY27 for federal matches could put an additional $163 million in federal dollars at risk.

On the current trajectory, the state could see 60% of roads in poor or very poor condition by the end of the decade. Paving, which is the most reactive to swings in funding, already fell to a historic low of 135 miles in FY25, far short of the 300 needed yearly to maintain system health and the 243 miles per year average for the past five years.

This issue affects far more than just drivers. Poor road conditions hurt Vermont’s visitor economy and increase costs for manufacturers dependent on reliable shipping.

The Transportation Fund challenge is a stark example of the reality every agency will face in the near term if Vermont does not change its long-term projections. With resources tightening and Vermonters already struggling with affordability, higher taxes are not a viable solution. Instead of cycling between program cuts and tax increases, Vermont can pursue a more sustainable path: growing opportunity and revenue through economic vitality. The Vermont Futures Project’s Economic Action Plan provides a roadmap to expand the economy, strengthen the workforce, and ensure long-term sustainability.

September 25, 2025

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