Dear Legislators,
Editor’s note: This is a public letter to the Vermont Legislature signed by 31 wealthy and high-income Vermonters urging it to support the Fair Share for Vermont proposal that would create a 3% income tax surcharge on incomes over $500,000.
As Vermont taxpayers and community members, we recognize the urgent moment we face. We see an acute housing crisis, chronic underfunding of state services, and a need for immediate investments in our infrastructure and environmental protection. At the same time, as Vermonters who have economically prospered in our state, we believe in contributing our fair share to build a state that works for all people who live here.
We support the Fair Share for Vermont proposals to increase taxes on the wealthiest Vermont residents, and we are willing to pay additional taxes to raise revenue for fundamental government services. We recognize that through public investment, we can improve the quality of life for all people.
Vermont is defined by its community spirit. Here in Vermont, we take care of our neighbors and form close relationships that transcend economic circumstances. Public investment, funded through tax revenue, is necessary to amplify these community efforts and fund programs that strengthen our communities.
We call on the Legislature to make fiscally responsible choices to ensure that we are addressing the needs of our residents and ensuring that our state’s revenues are strong and sustainable. And we think it’s important for Vermonters — especially our state legislators — to know that many of the people who will pay these taxes support them.
People like us value our state’s public investments and quality of life. We love living in Vermont and appreciate the public good that taxes provide.
We support the Fair Share for Vermont proposal that would create a 3% income tax surcharge on incomes over $500,000. We also support conversations in the Legislature to design a proposal for a modest tax on unrealized gains for taxpayers with over $10 million in assets. We understand the current bill to tax unrealized gains will be refined to improve scope and practicality, and as the Legislature works on these improvements, we support the effort to find ways to levy taxes on substantial pools of untaxed wealth.
These proposals would raise significant revenue from those most able to pay, which would be invested back into our state to address pressing needs and build strong communities.
We want our state to work for all Vermonters, and we want to contribute our fair share to make it happen.
Signed,
Ben Cohen, Duane Peterson, Jeff Shumlin, Evie Lovett, Hannah Dreissigacker, Jerry Greenfield, Susanna Penfield, Renee Reiner, Elsa Engstrom, David Blittersdorf, Maya Faulstich-Hon, Jo Lum, Alan Newman, Olivia Sommers, Martha Rabinowitz, Gwendolyn Talbot, Ron Miller, Barbarina Heyerdahl, John Wyman, Eliza Hale, Annie Penfield, Don Horenstein, Izzy Snyder, Sylvia Penfield, Rae Heller, Peter Wyman, Liana Moskowitz, Harley Meyer, Adeline Herbert, Gwendolyn Forbes and Brita Fisher.
