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Political notes from Free Press staff writers Terri Hallenbeck, Sam Hemingway and Nancy Remsen
11.18.2008
Bad news on the rise
The Joint Fiscal Committee has gathered in Montpelier for a day that is expected to include dour news. Chairwoman Susan Bartlett, D-Lamoille, put it this way. "I jumped out the window, but I have a one-story building so it didn't hurt much." A physical yesterday showed her blood pressure's surprisingly not high. So she expects her heart to make it through the next few months. "I'm not so sure about my soul," she said. Legislative leaders this morning sent this letter to the governor. Dear Governor Douglas We are sobered by our recent conversations with the legislature’sconsulting economist, Tom Kavet, in preparation for today’s meeting of the Joint Fiscal Committee. It is clear that the current economic crisis is hurting Vermonters and significantly impacting our state revenues. Despite the care of prior budgeting and last summer’s rescissions, we have more difficult choices ahead if we are to bring our fy2009 budget into balance and prepare for fy2010. These extraordinary circumstances demand extraordinary cooperation between political parties and branches of government. Today, the Joint Fiscal Committee will review preliminary revenue forecasts for the remainder of Fiscal Year 2009 and for Fiscal Year 2010. The forecast the Emergency Board will hear today is bleak. We have asked our Joint Fiscal Office staff to work with your Administration to develop a list of ideas to address the shortfall for fy2009. We recognize that the federal government is discussing options for economic stimulus that may affect Vermont’s outlook or present new options to us. We will continue to work with the National Conference of State Legislatures and our federal delegation to encourage steps that will have a meaningful impact on Vermonters and minimize the impact of the economic crisis on Vermonters. Given the level of uncertainty of federal response, the size of the projected revenue shortfall, and the already painful impact of earlier budget rescissions, it is impossible now to determine what the process will be for making adjustments. Like you, we have received a great deal of feedback from Vermonters asking for an opportunity to provide input and ideas. Certainly, we need to ensure that whatever process we work within allows Vermonters’ concerns to be heard. For now, the important first step is that our staffs work together to develop a list of options to consider. We look forward to working with you to ensure that state government faces these challenging times in a way that works for all Vermonters. Sincerely, Senator Peter Shumlin Representative Gaye Symington - Terri Hallenbeck
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