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FOR IMMEDIATE RELEASE

Even Before the First Question, Scott’s Made His National Republican Platform Clear

October 6, 2016

 

FOR IMMEDIATE RELEASE

Milne Campaign Acknowledges Violation of Federal Election Law

October 5, 2016

 

FOR IMMEDIATE RELEASE

Phil Scott’s Fiscal Irresponsibility Threatens Vulnerable Populations

October 5, 2016

 

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  • Where did the Scott campaign take the outdated recommendation from?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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Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

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.

####

Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

36 Days Left In the Election Cycle, No Specifics from Scott

October 3, 2016

 

Burlington, VT  With less than 40 days left in the election season and more than a year behind him, Phil Scott still hasn’t filled in the blanks he’s delivered on the campaign trail. Again and again, Scott’s “plans” have turned out to be empty offers and unanswered questions.

 

“Phil Scott has been in office for over 15 years - by now, he should have clear policy proposals for how to keep Vermont moving forward,” said Christina Amestoy, VDP spokesperson. “Instead his policies have been vague campaign slogans straight from a national Republican campaign. Even the few specific stats he could offer on capital gains, he immediately retracted because his campaign failed to research the numbers.”

 

In order to cut the budget, I will axe (#PhilintheBlank) programs that supports middle class Vermonters.

 

I will expand tax credits to corporations and the wealthy because I think it will stimulate economic growth.  It will cost the state (#PhilintheBlank) and be paid for by (#PhilintheBlank).

 

I will throw out Vermont Health connect and join (#PhilintheBlank).  It will cost Vermonters (#Philintheblank) and will kick (#PhilintheBlank) Vermonters off of their insurance.

 

“Leadership is understanding the issues and having already done your homework, not asking the state to press pause until you feel comfortable. Leadership is having a vision backed up by policy, not vague platitudes. Leadership is wanting to govern from day one, not hoping your advisors will fill in your policy gaps. Vermonters deserve a leader and Phil Scott needs to answer for his poor excuses for policy proposals.”

 

Phil Scott’s already had over a year to #PhilintheBlanks. Vermonters deserve better.

 

 



#PhilintheBlanks Word Box

Childcare Subsidies                                            

Ten of millions of dollars                                             

Vermont Commission on Women                     

19,000 Vermonters                                              

Middle-class Vermonters

Financial Aid

Affordable Housing Programs

$5 million annually

 

 

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Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

For Scott, Higher Education Isn’t Worth the Investment

September 30, 2016

 

Burlington, VT  On Wednesday evening Phil Scott took part in a gubernatorial debate hosted by VTDigger and Castleton University. Even as he participated in a debate hosted by one of our state colleges and moderated in part by Vermont college students, Phil Scott made one thing clear - investing in affordable higher education for Vermont students isn’t worth the cost.

 

Scott declined to offer up a plan to support Vermont students, instead telling them that nothing is free and the audience, “you’re going to pay.” (VTDigger, 9/29/16)

 

“Phil Scott has made it clear – he doesn’t believe that we should invest in our next generation,” said Christina Amestoy, VDP spokesperson. “Ensuring that our students are prepared for high paying, high skilled jobs is necessary to build a strong economy and keep young people in Vermont. Time and time again, Scott has been unable to point to a plan that helps our kids receive the education and training they need for livable wage jobs and helps our businesses find the skilled workers they need to grow in state. All he can do is recite national Republican economic ideas, not the solutions that Vermonters need.”

 

“Scott promises to attract new employers, yet refuses to invest in the education of our future workforce. He says he wants to increases wages, but he won’t help Vermonters get the training they need for high-paying jobs. He says he wants to retain Vermont students, but won’t give them a reason to stay.”

 

“How can Scott promise a stronger economy when he won’t invest in Vermont’s future workforce?”

 

Know the facts:

  • By 2020, over 66% of jobs in Vermont will require a college education. This percentage in only expected to increase

  • Vermont is the send in the nation in high school graduation rates at nearly 90%, but comes in near the bottom when it comes to those pursuing a higher degree

  • In Vermont, 40% of high school graduates do not pursue higher education

  • On average, someone with an associates degree with make $12,000 more per year than a high school graduate

  • On average, someone with a bachelor’s degree with make $32,000 more per year than a high school graduate

  • Average lifetime earnings for a BA holder are about $625,000 or 114% greater than those without

  • The incidence of poverty is 3.5 times lower among holders of a BA

  • The probability of being employed in 24% higher for those with a BA

 

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Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

127 Days: Milne Still Has No Position on Trump

September 30, 2016

 

Burlington, VT  After 127 days of his substance-free campaign, Mr. Milne may be the last person on earth who hasn’t figured out his position on Donald Trump’s fitness for the office of President of the United States.  As recently as yesterday, during his appearance on Republican radio host Mike Smith’s show, Mr. Milne refused to say whether he will support Mr. Trump for President.

 

Mr. Milne’s indecision comes as USA TODAY broke its 34-year-old policy of not weighing in on presidential campaigns and declaring Trump “unfit for the presidency.”

 

If Mr. Milne isn’t ready to announce his position on Mr. Trump’s candidacy, perhaps he’d be willing to depart from his substance free campaign to offer his opinions on the eight points the editorial board of the USA TODAY cited in their opposition to Trump.

 

Trump is erratic:  Do you believe Mr. Trump has the temperament to lead our country?  The USA TODAY editors noted he has shifted his position on 20 major issues.  Would you be willing to give your position on ANY 20 issues?            

 

Trump is ill-equipped to be commander in chief:  Do you believe Mr. Trump is fit to lead our military given the sheer number of former military leaders of both parties who oppose him?

 

Trump traffics in prejudice:  Do you support Mr. Trump’s views on “Mexicans, Muslims and migrants” as noted by the USA TODAY editors?

 

Trump’s business career is checkered: Do you believe Mr. Trump's business experience qualifies him for the presidency?  What are your views on practices of Mr. Trump that includes discrimination in housing rentals, six bankruptcies and misuse of his family’s charitable foundation?

 

Trump isn’t leveling with the American people:  Do you support Mr. Trump’s position that he cannot release his tax returns because they are being audited?  If Mr. Trump has not paid his taxes, as suggested, do you think that makes him "smart" and a good businessman?

 

Trump is reckless: Do you support Mr. Trump’s call to have Russian hackers interfere with American elections?  How do you respond to his statement that “Second Amendment People” can make sure the Democratic nominee doesn’t appoint liberal justices to the Supreme Court?

 

Trump has coarsened the national dialog:  Mr. Trump has attacked women, a Gold Star Family, a disabled reporter, immigrants and so many others.  Have you used your position as a US Senate candidate to condemn these attacks?  When will you?

 

Trump is a serial liar:  Do you believe it is an acceptable campaign strategy to use the Big Lie technique of “repeating it so often that people begin to believe it?”

 

After 127 days as a candidate, it is time for Mr. Milne to come clean about where he stands on Mr. Trump, and where he agrees or disagrees with Mr. Trump.

 

####

Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

RGA Ad Attacks Minter for Scott’s Record

September 30, 2016

 

Burlington, VT  Today, the Republican Governors Association released their second negative, misleading attack on Sue Minter - less than a week after the first.

 

This commercial is just more national Republican tactics. It is the same sort of strategy we’ve seen from national Republican allies across the country - a completely out-of-touch ad that attacks Sue Minter for Phil Scott’s record.

 

So we made a few edits to remind Scott’s national Republican allies who they’re really attacking.

 

Sources:

Vermont State Legislature, H. 69, Introduced 1/17/07

Vermont State Legislature, Vote on H.438, 4/24/09

Vermont State Legislature, Act 50 Summary, accessed 9/30/16

VCRD/VPT Gubernatorial Forum 7/20/16

 

####

Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

Scott’s Tax Breaks? Not for the Middle-Class

September 29, 2016

 

Burlington, VT  Phil Scott is getting help from his national Republican allies to cover up his own record on taxes. Scott’s voting history and his campaign promises have focused on helping out the wealthy and corporations while ignoring the needs of middle-class Vermonters.

 

“In his entire 15,000 word economic plan, Phil Scott completely ignores Vermont’s middle-class,” said Christina Amestoy, VDP spokesperson. "His plan offers handouts to millionaires and big corporations, while leaving the middle class in the cold."

“Like his national Republican allies, Phil is more than happy to promise tax breaks to corporations or to reduce the tax burden on capital gains, but fails to fight for Vermont families. What’s more, his inability to answer how he would pay for these corporate tax breaks begs the question, what will middle-class Vermonters have to sacrifice to pay for these handouts?”

 

“National Republican trickle-down economics may having a following in Washington, but Vermonters deserve better than a candidate who puts business interests before middle-class interests.“

 

Check the facts:

In His Original Economic Policy, Scott Proposes Restoring the 40% Exclusion for Capital Gains According to his economic plan, Scott would fight to restore the 40% exclusion for capital gains to reverse the “negative effect” the current $2,500 cap has. According to the JFO, the capital gain exclusions is overwhelmingly beneficial to those making over $200,000 a year, and, when the 40% exclusion was reapplied to a designated set of sources, Vermont lost out on $27.5 million taxes between 2011 and 2013. (Phil Scott Economic Plan) (JFO Capital Gains, 4/21/15)

 

Scott on Restoring Film Production Credit. In his economic plan, Phil Scott listed “restoring film production tax credits” as part of his “pro-growth” policies. These type of tax credits have recently been blamed for losing Massachusetts over $68 million in 2012 alone (Boston.com, 3/6/15). Phil Scott declared Massachusetts was benefiting from these credits and called the credit a no loss situation. (Phil Scott Economic Plan)

 

Scott Voted in Favor of H.480 under Governor James Douglas Which Raised The Sales Tax From 5 Percent To 6 Percent. The Times Argus reported, “Vermont’s previous governor, Republican James Douglas, raised the sales tax, Shumlin said. ‘I want to point out it was the last governor who raised the sales tax from 5 percent to 6 percent,’ he said. ‘If you do the math on that that’s $680 million that Vermonters have paid in sales taxes since it was raised from 5 percent to 6 percent.’” [Times Argus, 9/18/16]

 

Scott Supported Lowering The Threshold For Middle Class Families To Receive Property Tax Relief, Which Would End Relief For Those Earning Between $75,000 & $90,000. According to the Addison County Independent, “Unlike his GOP primary opponent, Mark Snelling, who expressed opposition to income sensitivity for property taxes (which means those with lower incomes get a break on their taxes), Scott said, ‘I don’t think income sensitivity is a complete mistake, I just think it is overused.’  He supported the efforts by Gov. Jim Douglas to reduce income sensitivity threshold so that those earning more than $75,000 would not qualify for a property tax relief, rather than the current threshold of $90,000. Scott said it would save the state $20 million.” [Addison County Independent, 8/12/10]

 

Scott Voted in Favor of H.784 which Reduced Corporate Tax Rates For All Income Brackets, Including Reducing The Rate From 9.75% To 8.9% For Corporations With Income Greater Than $250,000. According to the VT Department of Taxes 2003-04 Biennial Report, “Corporate tax rates are reduced for taxable years beginning on or after January 1, 2006 from 7% to 6% ($0 to $10,000 income bracket), from 8.10% to 7% ($10,001 to $25,000 income bracket), 9.20% to 8.75% ($25,000 to $250,000 income bracket) and 9.75% to 8.9% (income of $250,001 and over). H. 784, sec. 3. The rates are further reduced for taxable years beginning on or after January 1, 2007 for corporations with Vermont net income of $25,001 and over, to 8.5%. H. 784, sec. 4.” [VT Department of Taxes, 2003-04 Biennial Report, accessed 9/20/16]

 

H.784 Further Reduced Corporate Tax Rates For Large Corporations To 8.5% Starting In 2007. According to the VT Department of Taxes 2003-04 Biennial Report, “Corporate tax rates are reduced for taxable years beginning on or after January 1, 2006 from 7% to 6% ($0 to $10,000 income bracket), from 8.10% to 7% ($10,001 to $25,000 income bracket), 9.20% to 8.75% ($25,000 to $250,000 income bracket) and 9.75% to 8.9% (income of $250,001 and over). H. 784, sec. 3. The rates are further reduced for taxable years beginning on or after January 1, 2007 for corporations with Vermont net income of $25,001 and over, to 8.5%. H. 784, sec. 4.” [VT Department of Taxes, 2003-04 Biennial Report, accessed 9/20/16]

 

Scott Criticized “Steep Corporate Taxes” In Vermont As Driving Residents Away. The Caledonian-Record reported, “[Scott] also talked about Vermont's substantial exportation of residents. The hardest hit age group is 25-45. ‘That's the working class,’ he said. ‘Those are the folks who pay taxes. How do we get them to stay? How do we get them to come to Vermont?’ High property taxes, expensive electricity, steep corporate taxes, and the income tax are barricades to not only retaining residents but attracting new people and businesses, he said.” [The Caledonian-Record, 1/28/15]

 

2010: Scott Supported A Massive Tax Cut For Large Corporations After It Was Requested By Companies Such As Green Mountain Coffee Roasters. Seven Days reported, “Tax policy has divided the candidates, too. Howard has attacked Scott for supporting the so-called ‘domestic production deduction,’ a federal tax credit that lets manufacturers deduct a portion of their production expenses on their state tax returns. Howard says the tax credit is bad on two fronts: Multistate companies can claim the deduction for out-of-state costs; and the credit does little to help struggling businesses, because only profitable ones have income to offset. He faults Scott for voting to increase the credit to 9 percent last year, even as lawmakers were slashing services for the needy. Scott argues that Howard is ‘blowing it out of proportion.’” [Seven Days, 9/29/10]

 

Scott Said That The $1.7 Million In Lost Revenue Was Not A Huge Sum In His Estimation. According to Seven Days, “Increasing the deduction to 9 percent is costing Vermont an additional $1.7 million in foregone revenue - not a huge sum, in Scott's estimation. He says homegrown companies such as Green Mountain Coffee Roasters and Cabot Creamery have requested it. ‘Those businesses that are trying to be profitable in the state of Vermont are ones that we should not forget about,’ Scott says. ‘This is just a small little step to give a sense that Vermont is open for business.’” [Seven Days, 9/29/10]

 

####

Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

FOR IMMEDIATE RELEASE

CONTACT:

Christina Amestoy, VDP Communications Director

camestoy@vtdemocrats.org

 

RGA Ad Glosses Over Scott’s Own Tax Record

September 28, 2016

 

Burlington, VT - Today the national Republican Governors Association went up on air with their first negative ad of the campaign - a misleading attack against Sue Minter. This out of touch cookie-cutter hit is straight from the national Republican playbook and attempts to tie Sue Minter to the same votes that Phil Scott took while in the Senate.

 

“This recent ad by Scott’s national Republican allies drastically skews Sue Minter’s record,” said Christina Amestoy, VDP spokesperson. “But what their ad conveniently leaves out is Phil Scott’s own record. While in the Senate, Scott voted for a 2% tax on the wholesale price of gasoline which added about three cents per gallon to the price of gas. And he supported legislation that increased the Vermont sales tax, costing Vermonters $680 million in new taxes.”

 

“The RGA’s attempt to gloss over their candidate’s own positions, which favor the wealthy and corporations over the middle-class, is Republican hypocrisy at its best. In Phil Scott and the national Republicans’ vocabulary, ‘affordability’ only applies to the wealthy and corporations, not middle-class Vermonters. Trickle-down economics may be a staple of the national Republican platform, but, in Vermont, we know that all Vermonters deserve better. The RGA can spend hundreds of thousands of dollars, but it’s going to take more than negative ads to cover up Scott’s record of raising taxes on working Vermonters.”

 

Check the facts:

 

Scott Voted in Favor of H.438 Which Called For A 2 Percent Tax On The Wholesale Price Of Gasoline And Diesel Fuel, Which Was Expected To Add About 3 Cents To The Cost Of A Gallon Of Gasoline. The Associated Press reported, “The Vermont Senate has passed a $455 million transportation spending bill [H.438] that calls for a 2 percent tax on the wholesale price of gasoline and diesel fuel. At current prices, the tax hike is expected to add about 3 cents to the cost of a gallon of gasoline. Backers say it's needed to help address chronic under-funding of Vermont's transportation budget. The gas tax will allow the state to issue revenue bonds for future transportation spending when it is no longer receiving the federal stimulus funds that will be available in fiscal 2010 and 2011. Vermont is slated to get about $140 million in federal stimulus funds for transportation in the next two years.” [Associated Press, 4/24/09]

 

Scott Voted in Favor of H.480 under Governor James Douglas Which Raised The Sales Tax From 5 Percent To 6 Percent. The Times Argus reported, “Vermont’s previous governor, Republican James Douglas, raised the sales tax, Shumlin said. ‘I want to point out it was the last governor who raised the sales tax from 5 percent to 6 percent,’ he said. ‘If you do the math on that that’s $680 million that Vermonters have paid in sales taxes since it was raised from 5 percent to 6 percent.’” [Times Argus, 9/18/16]

 

Scott Supported Lowering The Threshold For Middle Class Families To Receive Property Tax Relief, Which Would End Relief For Those Earning Between $75,000 & $90,000. According to the Addison County Independent, “Unlike his GOP primary opponent, Mark Snelling, who expressed opposition to income sensitivity for property taxes (which means those with lower incomes get a break on their taxes), Scott said, ‘I don’t think income sensitivity is a complete mistake, I just think it is overused.’  He supported the efforts by Gov. Jim Douglas to reduce income sensitivity threshold so that those earning more than $75,000 would not qualify for a property tax relief, rather than the current threshold of $90,000. Scott said it would save the state $20 million.” [Addison County Independent, 8/12/10]

 

Scott Voted in Favor of H.784 which Reduced Corporate Tax Rates For All Income Brackets, Including Reducing The Rate From 9.75% To 8.9% For Corporations With Income Greater Than $250,000. According to the VT Department of Taxes 2003-04 Biennial Report, “Corporate tax rates are reduced for taxable years beginning on or after January 1, 2006 from 7% to 6% ($0 to $10,000 income bracket), from 8.10% to 7% ($10,001 to $25,000 income bracket), 9.20% to 8.75% ($25,000 to $250,000 income bracket) and 9.75% to 8.9% (income of $250,001 and over). H. 784, sec. 3. The rates are further reduced for taxable years beginning on or after January 1, 2007 for corporations with Vermont net income of $25,001 and over, to 8.5%. H. 784, sec. 4.” [VT Department of Taxes, 2003-04 Biennial Report, accessed 9/20/16]

 

H.784 Further Reduced Corporate Tax Rates For Large Corporations To 8.5% Starting In 2007. According to the VT Department of Taxes 2003-04 Biennial Report, “Corporate tax rates are reduced for taxable years beginning on or after January 1, 2006 from 7% to 6% ($0 to $10,000 income bracket), from 8.10% to 7% ($10,001 to $25,000 income bracket), 9.20% to 8.75% ($25,000 to $250,000 income bracket) and 9.75% to 8.9% (income of $250,001 and over). H. 784, sec. 3. The rates are further reduced for taxable years beginning on or after January 1, 2007 for corporations with Vermont net income of $25,001 and over, to 8.5%. H. 784, sec. 4.” [VT Department of Taxes, 2003-04 Biennial Report, accessed 9/20/16]

 

Scott Criticized “Steep Corporate Taxes” In Vermont As Driving Residents Away. The Caledonian-Record reported, “[Scott] also talked about Vermont's substantial exportation of residents. The hardest hit age group is 25-45. ‘That's the working class,’ he said. ‘Those are the folks who pay taxes. How do we get them to stay? How do we get them to come to Vermont?’ High property taxes, expensive electricity, steep corporate taxes, and the income tax are barricades to not only retaining residents but attracting new people and businesses, he said.” [The Caledonian-Record, 1/28/15]

 

2010: Scott Supported A Massive Tax Cut For Large Corporations After It Was Requested By Companies Such As Green Mountain Coffee Roasters. Seven Days reported, “Tax policy has divided the candidates, too. Howard has attacked Scott for supporting the so-called ‘domestic production deduction,’ a federal tax credit that lets manufacturers deduct a portion of their production expenses on their state tax returns. Howard says the tax credit is bad on two fronts: Multistate companies can claim the deduction for out-of-state costs; and the credit does little to help struggling businesses, because only profitable ones have income to offset. He faults Scott for voting to increase the credit to 9 percent last year, even as lawmakers were slashing services for the needy. Scott argues that Howard is ‘blowing it out of proportion.’” [Seven Days, 9/29/10]

 

Scott Said That The $1.7 Million In Lost Revenue Was Not A Huge Sum In His Estimation. According to Seven Days, “Increasing the deduction to 9 percent is costing Vermont an additional $1.7 million in foregone revenue - not a huge sum, in Scott's estimation. He says homegrown companies such as Green Mountain Coffee Roasters and Cabot Creamery have requested it. ‘Those businesses that are trying to be profitable in the state of Vermont are ones that we should not forget about,’ Scott says. ‘This is just a small little step to give a sense that Vermont is open for business.’” [Seven Days, 9/29/10]

 

In His Economic Policy, Scott Proposes Restoring the 40% Exclusion for Capital Gains According to his economic plan, Scott would fight to restore the 40% exclusion for capital gains to reverse the “negative effect” the current $2,500 cap has. According to the JFO, the capital gain exclusions is overwhelmingly beneficial to those making over $200,000 a year, and, when the 40% exclusion was reapplied to a designated set of sources, Vermont lost out on $27.5 million taxes between 2011 and 2013. (Phil Scott Economic Plan) (JFO Capital Gains, 4/21/15)

 

####

Paid for by the Vermont Democratic Party and not authorized by any candidate or candidate’s committee.

www.vtdemocrats.org; P.O. Box 1220 Montpelier, VT 05602; (802) 229-1783

 

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