On $26.1 million net increase, divided Senate votes to raise some taxes, cut others

Posted On Jan 1 2021 by

first_imgA wildly fluid package of tax increases that crossed party allegiances was passed by the Senate Wednesday by a thin 18-12 vote. The slew of tax changes would result in a increase of $26.1 million in new revenues. A $4.55 billion budget then breezed through the Senate on a 27-3 vote. Senate President Pro Tem Peter Shumlin pushed the tax package through the upper house despite objections from deep within his own party. Among the tax changes are across-the-board decreases in the income tax; limiting the capital gains exemption to $5,000 from 40 percent of value (to offset the income tax cuts); new taxes on satellite television services and digital downloads; re-imposing of a sales tax on clothing over $110; and increases in liquor and tobacco taxes. The budget includes increase in spending in part because of federal stimulus money being pushed into some programs, but in some cases, like unemployment insurance, are increasing just as major broad-based taxes (income, sales, transportation, education property) have suffered since last summer.Amendments to the Senate bill, before it is finalized, will be offered today. Even if passed as is, the Senate tax package will meet a much simpler House version in conference committee where many of the more controversial aspects of the Senate bill will likely be stripped out, namely the cutting of the income tax at the highest marginal rate and the clothing tax. The budget also could be cut to reduce the need to increase taxes.The tax package as is would lower incomes taxes for 84 percent of Vermonters and would drop Vermont’s top marginal rate from first to fifth nationally.The legislature has cut $70 million from the state budget since January 2008 and the FY10 budget includes an additional $28 million of cuts.last_img read more

College students may miss out on internship opportunities this summer

Posted On Dec 8 2020 by

first_imgMeanwhile some employers are offering virtual internships this summer. “I worked really hard to get this internship and it was something I was really proud of getting. I was obviously disappointed with what happened,” said Levine. Glassdoor Economic Research also says internship hiring on Glassdoor for May 2020 fell 49% from May 2019. He was looking forward to his internship at Horizon Media in New York City before it was canceled. Robert Levine is going to be a senior at Binghamton University this fall. According to Glassdoor Economic Research, a large job and recruiting site, one in two internship openings were closed since the coronavirus pandemic started in the U.S. While cancellations and changes are not ideal, students are looking at the bright side. “They said they didn’t have enough work for the interns so it didn’t make sense for them to have us,” said Levine. A positive outlook that could be attractive to employers in the future. “I’m just glad I have the opportunity to do it because I was originally really concerned that it was just going to be canceled outright,” he said.center_img Bosak was set to work side by side with the Suffolk County Legislature this summer, but now he will be doing it through Zoom. (WBNG) — College internships are meant to be a smooth transition into the workforce. But for many students, they will be missing out on that opportunity this summer. Binghamton University senior Zachary Bosak is one student in that situation. Levine is choosing to spend his time he would have been interning with taking summer classes. “My parents always say that you have to look at the positive of every situation so I’m just trying to make the best of everything that’s happened,” he said. “It’s a setback. But I’m really using it to build my skills up in other ways,” said Levine. “It’s the best of a bad situation, I’m glad that the opportunity is still present, and from what I’m seeing it seems like they’re going to have a lot of the original format intact,” said Bosak.last_img read more

Burg tops fan voting for IMCA fendered divisions

Posted On Sep 23 2020 by

first_imgADEL, Iowa – The number of votes left little doubt that Andrew Burg has quite a fan following. Burg’s IMCA Sunoco Hobby Stock was the top choice in August balloting for the Sybesma Graphics IMCA Facebook Fan Favorite contest. As a result, the 13-year-veteran will receive a mini-hood from contest sponsor Sybesma Graphics. “I’ve always raced a Hobby Stock. I’ve spent my entire career in that division,” said Burg, who fin­ished fourth in points at Stuart, anticipates a similar finish at Boone and won a single feature at each track this season. “I like the cost of the class and being able to race with the best of the best. We race with a lot of the best drivers in the country every Saturday and Sunday of the season.” He shares a shop with Shannon Anderson, John Watson and Jamie Songer. “I started racing with my dad when I got out of the service. I bought a used car for the first season and we built a new one for the next year,” Burg said. “It’s gotten a little more stressful over the last two years but things have come to fruition more. I’ve made a lot of friendships and met a lot of people racing.” Burg’s 16-year-old son Keith does most of the work on his dad’s car at the track. He’ll start his own Hobby Stock career next season in one of Burg’s used rides. Jimmy Keenan, Watson and often Songer round out the crew. Sponsors include Supreme Lawn & Landscaping, Chix Gear Racewear, CG Customs and Tony Moro Power Coating and Blasting, all of Des Moines; Finishline Auto Body & Paint of Grimes; Zipp’s Photos and Zipp’s Pizza of Adair; Ruby’s Pub of Stuart; Hawkeye Auto Salvage of DeSoto; Krazy Kal’s of Atlantic; and Five1seven Designs of Laguna Park, Texas.last_img read more