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Office web site presentation

  1. 1. Robert Letovsky Independent Candidate, Vermont Senate, Chittenden County1.What is the problem?2.What I propose to do about it:-2012 Vermont Economic Security Act;-2012 State Pension Security Act ;-2012 Energy Affordability and Reliability Act ;-2012 Vermont Economic Revitalization Act.3. Next Steps
  2. 2. It’s a gorgeous day at the beach….what are you complaining about? Enjoy the sun, sand, etc. etc. and stop whining!
  3. 3. What’s the problem? Losing our youth – the taxpayers of the future!200,000180,000 173,940160,000 147,523 138,959140,000 132,372120,000100,000 93,442 Under 18 77,510 80,000 Over 65 60,000 40,000 20,000 0 2000 2010 2030
  4. 4. Why do grads leave VT?(Survey data from Dyhrman, Iverson, Redmond, St. Michael’s College MSA Thesis, 2010)
  5. 5. Why is the exodus of young adults a problem?Problem Result ExampleHostile perception of Vermont Lack of good jobs BLS/Moody’s study Where the jobs will be 2011-2016Lack of good jobs High rate of “export” of young Median age in Vermont peopleHigh cost of living High rate of “export” of young Median age in Vermont peopleHigh rate of “export” of young Fewer taxpayers >> - State troopers Chittenden County;people Inadequate tax base - $3 Billion unfunded pension & health obligations as of 2011High rate of “export” of young Fewer families with young Vermont spends $15,475/student onpeople children>>>Declining K-12 K-12 vs. $10,499 U.S. average enrollment /rising costsDeclining K-12 enrollment/ rising Declining taxpayer support for Bolton Town Meeting March 12 –costs public school budgets voters pass resolution to explore school closing!
  6. 6. Vermont’s Report Card 2011-2012• Forbes “Best States for Business 2012”: 45th• Chief Executive Magazine “Best/Worst States for Business 2012”: 38th• CNBC “America’s Top States for Business 2012”: 38th• Tax Foundation “State Business Tax Climate Index Rankings, 2011-2012: 47th• Kauffman Foundation /Thumbtack.com 2012 Small Business Friendliness Survey: 49th
  7. 7. Why is the exodus of young adults a problem?Problem Result ExampleHostile perception of Vermont Lack of good jobs BLS/Moody’s study Where the jobs will be 2011-2016Lack of good jobs High rate of “export” of young Median age in Vermont peopleHigh cost of living High rate of “export” of young Median age in Vermont peopleHigh rate of “export” of young Fewer taxpayers >> - State troopers Chittenden County;people Inadequate tax base - $3 Billion unfunded pension & health obligations as of 2011High rate of “export” of young Fewer families with young Vermont spends $15,475/student onpeople children>>>Declining K-12 K-12 vs. $10,499 U.S. average enrollment /rising costsDeclining K-12 enrollment/ rising Declining taxpayer support for Bolton Town Meeting March 12 –costs public school budgets voters pass resolution to explore school closing!
  8. 8. 2009 8
  9. 9. Current Expenditure PerRank State Pupil (FY09) 1 New York $18,126 2 Washington D.C. $16,408 3 New Jersey $16,271 4 Arkansas $15,552 5 Vermont $15,175 6 Wyoming $14,573 7 Connecticut $14,531 8 Massachusetts $14,118 9 Rhode Island $13,707 10 Maryland $13,449 U.S. $10,499
  10. 10. What am I proposing to do (1): The “I want to be able to afford to live in Vermont but don’t want to live with my parents until I’m 40” Act IProblem Result of my proposed “act”Hostile perception of Vermont Benchmark Vermont >>>> become “average” >>>> Rebrand Vermont in the minds of job creators!Lack of good jobs Attract more economic activityHigh cost of living Identify regulatory cost escalators -make living in VT affordable for young people;Fewer taxpayers by 2030 Grow tax base to adequately fund key state services AND honor pension obligationsFewer families with children >>> declining K- Have more young families children enrolled in12 enrollment/rising costs K-12 school system
  11. 11. Vermont’s Report Card 2011-2012• Forbes “Best States for Business 2012”: 45th• Chief Executive Magazine “Best/Worst States for Business 2012”: 38th• CNBC “America’s Top States for Business 2012”: 38th• Tax Foundation “State Business Tax Climate Index Rankings, 2011-2012: 47th• Kauffman Foundation /Thumbtack.com 2012 Small Business Friendliness Survey: 49th
  12. 12. Vermont’s Current Positioning – Taxes (Time, May 2012)
  13. 13. What am I proposing to do (2): The “ I want to be able to retire in dignity and not have to work as a Wal-Mart greeter unless I want to” Act. IProblem Result of my proposed “act”$3 Billion unfunded pension & health Transparency for taxpayers and retirees re:obligations as of 2011 current and anticipated obligations under various scenarios Within 90 days, a report on how VT will fund pension and health obligations. Protect commitments made to retirees: NO changes to current retirees or anyone within 5 yr. window of retirement. Avoid unacceptable choices between honoring commitments to retirees or funding key state services.
  14. 14. Example of Scenarios regarding VT Pension Obligations
  15. 15. What am I proposing to do (3): “The “I don’t want to have to huddle over a fireplace wearing 5 sweaters and reading by candlelight, then wait two hours for a bus to get to work because I can’t afford an electric car” Act.Problem Result of my proposed “act”High energy costs - VT 39th in avg. retail Identify why energy costs in Vermont are whereelectricity prices they are.40% of VT electricity from Hydro Quebec @ Give Vermonters an idea of the true impacts ofavg. price $67.91 per MW - 29% higher than the the takeover of Vermont’s utilities by theavg. price Hydro Québec charges all its other government of QuebecAmerican customers.2012: Green Mountain Power, Central VermontPublic Service, and majority of VELCO ALLowned by units of the government of Quebec (soleowner of Hydro Quebec) Show Vermonters what 90% Renewable EnergyDec./2011 Shumlin administration mandate will cost and how it can be paid for;“Comprehensive Energy Plan” 90% renewablesby 2050 – no indication of costs/ subsidies/taxes Develop an energy plan that addressesrequired. economic, environmental and security of supply issues rather than just one of these.
  16. 16. Annual Average Electricity Price Comparison by State (National Avg. 9.83 cents/kw hr.)• Rank State Average Electricity Rate for• 1 Wyoming 6.20• 2 Idaho 6.54• 3 Washington 6.66• 4 Kentucky 6.73• 5 Utah 6.94• 6 North Dakota 7.11• 7 Arkansas 7.28• 8 West Virginia 7.45• 9 Nebraska 7.52• 10 Oregon 7.56• 11 Oklahoma 7.59• 12 Iowa 7.66• 13 Indiana 7.67• 14 Missouri 7.78• 15 Louisiana 7.80• 16 South Dakota 7.82• 17 Montana 7.88• 18 Kansas 8.35• 19 New Mexico 8.40• 20 Minnesota 8.41• 21 S. Carolina 8.49• 22 Mississippi 8.59• 23 Tennessee 8.61• 24 N. Carolina 8.67• 25 Virginia 8.69• 26 Georgia 8.87
  17. 17. Factors to Consider re: Renewables• NIMBY (e.g. Lowell Mountain)• Intermittent energy vs. base-load demand.
  18. 18. Factors to Consider re: Renewables (2) Source: U.S. Department of Energy• Subsidies? Who pays?
  19. 19. What am I proposing to do (4): The “Why don’t we do something to boost the successful businesses we already have?” Act.Problem IResult of my proposed “act”Relative Lack of good jobs Support continued growth in already successful industrial clusters in Vermont: - Design/Graphics (incl. web design) - Energy efficiency - Food - Furniture - Higher education Promote public policies that can jump-start emerging industrial clusters: - Aerospace - Medical equipment/supplies
  20. 20. Will You Help Me Fight for Vermont’s future?• Contacts: Others who share my/your concerns;• Time?• Contact the media: Why is this issue being ignored?• Other support?

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