Vermont Revenue Forecast Downgraded Slightly
The still sluggish economic recovery will mean Vermont will collect about $20 million less in revenue for three key state budget funds than had earlier been anticipated.
That was the word from consulting economists Jeff Carr and Tom Kavet, who met with a special state panel that reviews the state's finances twice a year.
Kavet and Carr told the Emergency Board — made up of the governor and the four legislative money committee chairs — that the general fund for the current fiscal year is slightly healthier than had been forecast. But the transportation and education funds are lagging, meaning that overall, the state will end the year about $3 million below projections.
The economists are now saying they don't expect to see robust economic growth before fiscal 2015.
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