Please tell Senate Finance Committee members that limiting the amount of funds non-profit organizations can raise in Vermont to fund their missions is the wrong way to raise revenue.
The Vermont House has passed legislation that would cap itemized deductions at 2.5 percent of the state standard deduction ($15,500/individual; $31,000/couple). The bill, which reportedly raises $33.2 million, is now before the Senate Finance Committee. Please contact members of the Senate finance Committee at http://legislature.vermont.gov/committee/detail/2016/25 and tell them that such a cap could have an adverse effect on the good work the AHA is doing in Vermont.
In a response to Vermont’s non-profit community recently Senate Finance Committee Chair Tim Ashe stated the following, “…one thing is clear – Vermont’s tax system is in need of change. We currently tax the things that are not growing, and we do not tax the things that are growing. I am in no jag whatsoever to merely raise new taxes to “get us through this year.” We really do need a long-term approach so that both government and our non-profit partners have stable funding for planning and operational purposes.”
We agree. Please tell committee members that implementing excise taxes on tobacco and sugary drinks could raise significant revenue for the state but more importantly, deter unhealthy behaviors that lead to diseases such as heart disease, stroke and cancer that are costing the state millions.