Senate Finance Committee Takes Testimony on Employer Taxes

The Senate Finance Committee heard testimony from the Joint Fiscal Office (JFO) on employer payroll–based taxes, such as State and Federal income tax, Social Security, Medicare, unemployment insurance, and workers‘ compensation, and received a preview of proposals for new payroll taxes. The Vermont Chamber will testify next week on the total impact of millions in proposed taxes to ensure the committee has a thorough understanding of the cumulative impact of these measures on employers when considering implementing additional taxes and understand the need to value economic stewardship during a time of great uncertainty.