MONTPELIER — Vermont Gov. Phil Scott says he will veto a bill that would create an income tax surcharge to help fund schools.
Vermont Public Radio reports the House voted Wednesday to approve the education financing plan. The income surcharge would raise about $60 million to offset property tax cuts.
Scott says an income tax surcharge won’t drive down the overall cost of education. The Republican governor says the bill is unacceptable.
Democratic Rep. Janet Ancel, the chairwoman of the House Committee on Ways and Means, says the education plan doesn’t represent a tax increase. Ancel says lawmakers are “shifting money from property tax to income” to avoid a net increase.
The bill will be reviewed by the Senate.