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home : news : regional April 16, 2014

Vt. revenues lag targets in January – slightly

MONTPELIER, Vt. (AP) -- Vermont revenues lagged expectations in January, but are essentially on target for the year.

That word from Administration Secretary Jeb Spaulding comes as lawmakers review Gov. Peter Shumlin's budget requests for the fiscal year that starts July 1.

Spaulding says both the personal income tax and sales and use tax came in under their targets for January, while the corporate tax and rooms and meals taxes exceeded their targets.

Fuel tax revenues that support the transportation fund were lower than expected, a fact that Spaulding said was at least partly due to lower-than-expected prices at the pump.

Spaulding says it's unwise to make conclusions from a single month, but he adds that the administration will be keeping a close eye on various revenue components, especially the personal income tax.

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