Scott says five-year plan will generate nearly $300M in savings

MONTPELIER, Vt. — Gov. Phil Scott this week highlighted a five-year plan to increase the efficiency of Vermont’s education system, which he said would direct more resources to educational opportunities. 

The governor also said it would prevent a $58 million property tax increase, reverse the State’s chronic deficits in the Education Fund and keep ducation tax rates level for five years.

With student enrollment that’s declined by nearly 30,000 in 20 years, and expected to decline by another 7,000 by 2026, inefficiencies in an outsized system have diverted resources from students and become unaffordable and unsustainable for taxpayers, according to Scott.

He said the five-year plan would:

• Close the FY19 Education Fund gap and address future deficits

• Stabilize statewide property tax rates for five years

• Fully fund the school budgets local voters have approved for next year

• Generate nearly $300 million in total savings over five years, which can be reinvested in cradle-to-career educational opportunities

• Allow education spending to grow sustainably each year-based on the average projected increase in grand list value of 3.25 percent each year without raising property tax rates

• Set Vermont on a stable and predictable five-year path, allowing local school districts to take full advantage of the governance changes made under Act 46.

I appreciate that some legislators have expressed a willingness to work with us. Just last Thursday, Senate leadership sent me a letter saying they looked forward to working with me on a plan-although that willingness seems to have changed in recent days.

“There are only two possible outcomes for Vermonters right now,” Scott said. “We can work together in Montpelier on a plan to prevent a property tax rate increase while introducing long-term stability to the system. Or, we can burden Vermonters with a $60 million education tax increase and continue to be in this position year-after-year.”