Conflict Of Interest for H.829

Around the NEK- Legislation wants to address current housing issues through a bill called H.829.

The purpose of this bill is to meet the issues of housing stock and homelessness acorss the entire state. The bill calls for a new tax bracket which bumps the current tax rate by 3% on incomes over $500,000. The bill passed with 97 representatives in favor and 42 were opposed. Representative for Craftsbury, Katherine Sims, stated that H.829 would increase affordable housing units make homeownership more accessible and affordable. Representative for Caledonia-Essex District, Scott Campbell, believes the people that make $500,000 or more can afford to pay a little bit more. Some representatives aren't fully convinced about the bill. Representative for Essex-Caledonia County, Terri Williams, stated that Vermonters are already paying a good amount of the state's tax revenue even without the increased tax rate.  

"We have a supply problem. We need to increase it so any spending we do, need's to have unit generation in mind," Gov. Phil Scott stated in his weekly press conference. 

Some representatives argued this could drive away people from Vermont and could cause people not to move to the state like Representative Scott Beck. He stated he voted no on this legislation because it adds $900 million to the general funds and it could increase personal income taxes to a small group of taxpayers. 

"The only way we'll get the biggest bang for the buck is if we actually move forward with meaningful, regulatory reform to make it easier, less expensive, and faster to build housing," stated Gov. Phil Scott.