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ICYMI: Scott Fails to Do His Homework on Capital Gains

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

ICYMI: Scott Fails to Do His Homework on Capital Gains

October 4, 2016

 

Burlington, VT  Phil Scott backtracked on his capital gains policy less than a month after releasing it. His campaign’s reason for the switch? Their complete failure to check the numbers before publishing.

 

"Phil Scott spent more time producing his glossy brochure than he did researching the policies that affect Vermont's working families,” said Christina Amestoy, VDP spokesperson. “Vermonters deserve a governor who takes tax policy seriously from the start, not just when he finds out his work is being checked."

 

The Scott campaign failure to check their own work leaves Vermonters wondering what else hasn’t been adequately researched. Phil Scott’s policy switch opens up even more questions about his capital gains policy:

 

  • Why wasn’t the original policy fact checked? A Scott campaign spokesperson stated that, “you can’t just institute a change like this overnight and not expect negative outcomes.” Why wasn’t this considered when the policy was first included in Scott’s economic plan?

  • If the Scott campaign didn’t adequately research their capital gains policy, was the rest of his 15,000 word economic plan vetted?

  • Where did the Scott campaign take the outdated recommendation from? Speaker Paul Ryan’s House Republican Blue Print?

  • How much would Phil Scott’s new capital gains policy cost Vermont in lost tax revenue?

  • Can Phil Scott point to economic benefits stemming from the $27.5 million lost under the current capital gains exclusion policy to rationalize his expansion of it?

  • Why was this policy change not publicly announced?

  • Was Phil Scott unaware of the changes to the tax code that were passed during his time in office?

 

Like with the rest of his vague “plans,” Phil Scott’s new capital gains position brings up more questions than it answers.

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