I’m delighted to be speaking at the Association of Vermont Credit Unions Annual Convention this Saturday. It’s always such a pleasure to spend time with my credit union friends in Vermont!
Becca Balint, Vermonters cannot afford more costly government programs. WE CANNOT GIVE HOUSES AWAY!
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My approach: No new taxes for the next few years. Prioritize tax relief and credits instead. I will make sure Congress uses the money Washington already collects more wisely. Let's run programs people need well.
I propose an annual refundable federal property-tax credit of up to $8,500 for homeowners, prioritizing people age 65 and older and households whose property taxes consume a large share of their income.
The credit would apply to a primary residence and property taxes actually paid after state relief. It would phase out as income rises, with safeguards against duplicate federal tax benefits.
Because the credit would be refundable, eligible homeowners could benefit even if they owe little or no federal income tax.
We must scrutinize spending and identify offsets to fund this relief responsibly. Vermonters deserve a government that respects their hard work and helps them afford to stay in their homes.
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—Gerald Malloy
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