Center on Budget and Policy Priorities: Vermont Can Invest in Brighter Future With Targeted Income Tax Measure

According to estimates from the Institute on Taxation and Economic Policy (ITEP), the proposal would fall almost exclusively on the state’s richest 1 percent of households, or those with average incomes of about $1.8 million a year.^[2] The remainder of the state’s residents — who to be clear, already themselves contribute significant shares of revenue through existing taxes on income, sales, and property^[3] — would see no change.

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