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Vermont Governor and Lawmakers Reach Deal on Budget, Taxes

Vermont Governor Peter Shumlin and legislative leaders say they've reached a deal on a budget and taxes for the coming fiscal year that they say won't require any additional tax increases.

A gasoline tax took effect last week and an increase in the cigarette tax is tied to a health care bill.

Shumlin says there is no need for other increases such as an expanded sales tax on candy, soda or bottled water, or a cap on the home mortgage interest deduction.

Shumlin says budget negotiators from the House and Senate will still need to find $10 million in cuts, but he's confident they can do that before the expected Saturday adjournment.

Copyright 2013 Associated Press. All Rights Reserved.