Lawmakers introduced four bills to institute carbon taxes while offsetting other taxes.
- One of the bills would eliminate Vermont’s sales tax and raise the same amount from a tax on carbon dioxide pollution, a contributor to climate change.
- Another would return all its revenue to Vermonters through dividend checks every three months.
- A third would exempt businesses earning less than $400,000 a year from paying income tax and would cut income tax rates across the board while doubling a tax credit for low-income residents.
- The fourth would slash property taxes for education and raise the equivalent amount through a tax on carbon dioxide pollution.
(bill descriptions from VT Digger)
More information on the proposals is available here:
VT Business Magazine: State rep proposes fossil fuel fee to reduce property taxes
VT Digger: New Carbon Tax Proposals Look to Shift Burden Onto Pollution
VPR: Vt. House Democrats Reintroduce ‘Carbon Pollution’ Fee With Fresh Messaging
Rutland Herald: Lawmakers: Carbon tax would reduce other taxes in Vt.