Snow Shortage Hurts State Revenues

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The shortage of snow in Vermont has harmed the state’s winter tourism economy in January and created a dent in state revenues.

Administration Secretary Jeb Spaulding’s monthly revenue report released yesterday shows the state came up about 4.7 percent shy of the $133 million general fund target.

Spaulding calls the results disappointing but not surprising. He says the shortage of snow showed up in reduced sales and use and rooms and meals tax collections, and that personal income tax results also were below target. The same thing applied to gasoline and diesel taxes.

Spaulding says tax collections remain ahead of what they were a year ago, indicating the economic recovery is proceeding slowly but surely.

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