Brian Dubie speaks at a press conference with business leaders
Gov. Jim Douglas, Lt. Gov. Brian Dubie, lawmakers and more than 20 businesses held a press conference earlier this week to protest the Legislature’s proposed cap on the “domestic production deduction,” a tax break for corporations. The exemption rate is currently 6 percent. Under lawmakers’ plan, the rate would stay at that level for two years, at which time the exemption, which is a pass through of a federal tax deduction would increase to 9 percent. At the current rate, the deduction costs the state $9 million a year. The cap will save the state $1.7 million. Large corporations, such as B.F. Goodrich and Green Mountain Coffee Roasters say the lost increase in the exemption will cost them about $50,000 each.
