News & Sports -> News

Vt. House Votes to Tax Dietary Supplements


posted at 2:32 pm Mon Mar 29th, 2010 by (WherezIt_Staff)

The VT House voted Thur. to delay a scheduled tax cut for manufacturers and to apply the state sales tax for the first time to dietary supplements, before arguing over budget cuts later in the day.

The tax changes, crafted by the House Ways and Means Committee, came in a package of amendments that won House approval on a vote of 92-49. Democrats said the changes were needed to stem increases in school property taxes, a goal that Republican Gov. Jim Douglas has pushed.

But Douglas opposed blocking the manufacturers' tax cut, something manufacturers said was needed during tough economic times. The governor rebutted Democrats' assertions that the change in the tax on manufacturers was not a tax increase, merely a delay in a scheduled tax cut.

"It's an increase in what they were anticipating paying," the governor said.

He said Vermont lost about 2,000 manufacturing jobs in the past decade.

"I can't imagine a worse time to propose raising taxes on those businesses that are so vital to our economic future," Douglas said.

Read the rest of the story at http://www.businessweek.com/ap/financialnews/D9EMAT200.htm

Relevant Address(es):
Montpelier, VT 05602 (Set as Local)

Add your
Add more information or share what you think about this article.

Subject
Have the website send an email notification whenever anybody else comments on this story.
   







Want to see your ad here?


© 2019 WherezIt.com

Page generated in: 0.036 seconds
Query Count: 43 Query Time: 0.006