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Gov. Scott focuses on securing matching funds for Vermont infrastructure projects during his weekly briefing

Vermont Statehouse and Governor Phil Scott
photos by Pat Bradley
/
WAMC
Vermont Statehouse and Governor Phil Scott

During his weekly briefing today, Vermont Governor Phil Scott and members of his administration said the state legislature must set aside matching funds for infrastructure projects.

Governor Scott’s budget proposed setting aside more than $150 million in surplus funding to assure the state can leverage federal dollars over the next few years. In addition to ARPA funds, the Republican noted that billions more will be available from the Bipartisan Infrastructure Law and the Inflation Reduction Act, but they are more traditional and require state matches.

“The return on investment is incredible. We will receive a minimum of four federal dollars for every dollar we invest. And in some cases, it’s ten times that amount. Now here’s the good news. We don’t have to worry about where that match will come from because we have the money right now. This year we have a record amount of state surplus, which is why I believe it would be wise to dedicate $150 million of it to guarantee these funds are available when we need it.”

Scott said he is hearing a mixed response from legislators, with some expressing other priorities for the surplus.

“The legislature’s own economist told us we were likely to see revenue growth drop significantly in the coming years. That means we might not have the match money we need, putting important projects at risk. Dedicating the funding now would also provide certainty to our communities and the partners who do the work so they can plan ahead. We have a golden opportunity to be pragmatic and help assure that our infrastructure and economic needs are met in the future. And I’m hopeful the Legislature sees the merits of this strategy as well.”

Rutland Mayor David Allaire, a Republican, attended the briefing virtually. He said the governor’s proposal mirrors what they are doing in Rutland, setting aside $400,000 from their ARPA allocation in order to have readily available matching funds for federal and state grant opportunities.

“It’s a good strategy. Anticipating needs and being proactive and having a degree of certainty helps people plan. That’s why it makes all kinds of sense for the state to set aside this money now while we have it in surpluses to ensure we can take full advantage of federal funds in the years to come where we don’t know if state coffers will be as full. Knowing we have projects on the horizon and the funding to achieve them can also help keep people employed and the economy moving.”

The governor’s office says a Vermont Agency of Transportation analysis found that if the matching funds are not locked in now, project delays could occur. For example, delaying a 2024 project to 2025 would require other projects in 2025 to be delayed. That would create a domino of delays into Fiscal Year 2026 that could result in estimated additional costs of more than $655 million.

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