Dunne Proposes Increased Capital Gains Tax To Fund Debt-Free College

Jun 29, 2016

Democratic gubernatorial candidate Matt Dunne says he'd like to raise Vermont's capital gains tax rate in order to fund expanded access to college for Vermonters.

Dunne's plan would provide debt-free college at the state's public colleges and the University of Vermont for in-state high school graduates who pledge to complete two years of service after college.

"The exciting thing about the program that we're proposing is that it does come with federal dollars, whether for military service or for AmeriCorps service," Dunne said Wednesday. "Those are dollars that are frequently going to Vermonters but to institutions that are outside of the state."

But the federal money that comes with AmeriCorps and Peace Corps volunteers or for military service wouldn't completely cover the cost of college for those students.

Dunne's proposal, which he expressed in a reddit AMA as part of VPR's "Meet the Candidates" series, is to raise the state's capital gains tax rate to cover the rest.