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Unemployment insurance bill will increase tax burden for Vermont businesses
Without legislative intervention, Vermont businesses will experience an enormous increase in the unemployment insurance tax rate as a result of COVID-19-related claims. A Senate committee has passed a bill to delay that increase, but at the same time also voted to add significant new benefits that will further increase costs to employers.
The Unemployment Trust Fund is paid through a UI tax on business owners. Pre-COVID, the fund had a robust $500 million balance. The tax is calculated in five schedule rates, with Schedule 1 the lowest. Higher rates kick in if the trust fund balance decreases, which it has by more than 50% due to pandemic-related business shutdowns and resulting increases in unemployment. Without legislative intervention, the resulting UI tax rate jump to Schedule 5 would cost a majority of businesses $186.00 per employee, more than tripling the current contribution of $58.00 per employee.
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Vermont Business Magazine Building on early fulfillment of its groundbreaking $16.5 billion Community Benefits Plan, KeyBank today announced it will increase its commitment to $40 billion. The investments will continue focus on economic access and equity for underserved communities and populations.
Launched in 2017, the National Community Benefits Plan surpassed its $16.5 billion goal in 2020 by delivering more than $18 billion in lending and investments across its footprint.
This includes $107 million of investments in Vermont supporting small business and home lending in low- and-moderate income communities, affordable housing and community development projects, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.
Don Dickson
Don Dickson passed away on January 16, 2021, at the Ethan Allen Residence in Burlington, Vt. He was born on March 31, 1942, in Lawton, Okla., where his parents, Donald Dickson Sr. and Merlyn Dickson, were living at Fort Sill. He is survived by his wife of 48 years, Judy Dickson; his children Amy, David and Jeff Dickson; his grandson Jonah Dickson; and his siblings Peggy Higgenbotham (Nate), Georganne Lohman (Dave) and Tom Dickson.
Don grew up in East Lansing, Mich., where he graduated from high school. After obtaining a bachelor’s degree from Michigan State (1964), he obtained a master’s degree in Southeast Asian studies from Yale University (1966) and a PhD from the Massachusetts Institute of Technology in political science (1975). Prior to attending MIT, Don served in the U.S. Navy in Southeast Asia (1967 to 1969).
Connecticut
The Connecticut Housing Finance Authority gives loans for down payment assistance. You must borrow at least $3,000, but you can t borrow more than the minimum down payment for your home.
You might find assistance specific to where you live through the Housing Development Fund.
Delaware
You can receive 2% to 5% of your mortgage amount as a loan from the Delaware State Housing Authority, and put that loan toward a down payment or closing costs. You won t pay interest, and you ll pay back the loan when you move, refinance, or pay off your mortgage. You can also get up to $2,000 per year in tax credits.