• It’s been all but officially announced that Deb Markowitz is running for Governor. If the rumors that she has been raising money are true, she’ll have to open a campaign account sooner rather than later. The question, then, is who will run for Secretary of State in 2010? Expect a primary, expect a relatively strong Prog candidate, and expect an unexpected name or two.
• Philip posts a picture of Obama uber-financial-contributor Jane Stetson of Norwich in a plum inauguration seat next to Chelsea Clinton. Given that Obama intends to continue the tradition of giving major donors ambassadorships, how much you wanna bet Stetson lands herself one?
• Philip also posts what I forgot to: the info on the Burlington Dems’ fundraiser with Speaker Smith. Woops. It’s today, 5:30-7:00 pm
  
  “In the Wine Cellar of 135 St. Paul Street, Burlington (Corner of Main Street and St. Paul Street).” Suggested contributions start at $25, and info (and RSVPs) can go to Selene at 802-578-7250 or selenehs-at-gmail.com.
• The Dean era is over – is the 50-State Strategy toast too? Bowers thinks so. Meanwhile rumors are that the GOP is looking into emulating it themselves (you know, because it worked). Ahh, Democrats…

This is the prepared text as released to the media:

My fellow citizens:

I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors. I thank President Bush for his service to our nation, as well as the generosity and cooperation he has shown throughout this transition.

Forty-four Americans have now taken the presidential oath. The words have been spoken during rising tides of prosperity and the still waters of peace. Yet, every so often the oath is taken amidst gathering clouds and raging storms. At these moments, America has carried on not simply because of the skill or vision of those in high office, but because We the People have remained faithful to the ideals of our forbearers, and true to our founding documents.

So it has been. So it must be with this generation of Americans.

That we are in the midst of crisis is now well understood. Our nation is at war, against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age. Homes have been lost; jobs shed; businesses shuttered. Our health care is too costly; our schools fail too many; and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet.

These are the indicators of crisis, subject to data and statistics. Less measurable but no less profound is a sapping of confidence across our land – a nagging fear that America’s decline is inevitable, and that the next generation must lower its sights.

Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America – they will be met.

On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord.

On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn out dogmas, that for far too long have strangled our politics.

We remain a young nation, but in the words of Scripture, the time has come to set aside childish things. The time has come to reaffirm our enduring spirit; to choose our better history; to carry forward that precious gift, that noble idea, passed on from generation to generation: the God-given promise that all are equal, all are free, and all deserve a chance to pursue their full measure of happiness.

In reaffirming the greatness of our nation, we understand that greatness is never a given. It must be earned. Our journey has never been one of short-cuts or settling for less. It has not been the path for the faint-hearted – for those who prefer leisure over work, or seek only the pleasures of riches and fame. Rather, it has been the risk-takers, the doers, the makers of things – some celebrated but more often men and women obscure in their labor, who have carried us up the long, rugged path towards prosperity and freedom.

For us, they packed up their few worldly possessions and traveled across oceans in search of a new life.

For us, they toiled in sweatshops and settled the West; endured the lash of the whip and plowed the hard earth.

For us, they fought and died, in places like Concord and Gettysburg; Normandy and Khe Sahn.

Time and again these men and women struggled and sacrificed and worked till their hands were raw so that we might live a better life. They saw America as bigger than the sum of our individual ambitions; greater than all the differences of birth or wealth or faction.

This is the journey we continue today. We remain the most prosperous, powerful nation on Earth. Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year. Our capacity remains undiminished. But our time of standing pat, of protecting narrow interests and putting off unpleasant decisions – that time has surely passed. Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America.

For everywhere we look, there is work to be done. The state of the economy calls for action, bold and swift, and we will act – not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place, and wield technology’s wonders to raise health care’s quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. And all this we will do.

Now, there are some who question the scale of our ambitions – who suggest that our system cannot tolerate too many big plans. Their memories are short. For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined to common purpose, and necessity to courage.

What the cynics fail to understand is that the ground has shifted beneath them – that the stale political arguments that have consumed us for so long no longer apply. The question we ask today is not whether our government is too big or too small, but whether it works – whether it helps families find jobs at a decent wage, care they can afford, a retirement that is dignified. Where the answer is yes, we intend to move forward. Where the answer is no, programs will end. And those of us who manage the public’s dollars will be held to account – to spend wisely, reform bad habits, and do our business in the light of day – because only then can we restore the vital trust between a people and their government.

Nor is the question before us whether the market is a force for good or ill. Its power to generate wealth and expand freedom is unmatched, but this crisis has reminded us that without a watchful eye, the market can spin out of control – and that a nation cannot prosper long when it favors only the prosperous. The success of our economy has always depended not just on the size of our Gross Domestic Product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart – not out of charity, but because it is the surest route to our common good.

As for our common defense, we reject as false the choice between our safety and our ideals. Our Founding Fathers, faced with perils we can scarcely imagine, drafted a charter to assure the rule of law and the rights of man, a charter expanded by the blood of generations. Those ideals still light the world, and we will not give them up for expedience’s sake. And so to all other peoples and governments who are watching today, from the grandest capitals to the small village where my father was born: know that America is a friend of each nation and every man, woman, and child who seeks a future of peace and dignity, and that we are ready to lead once more.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

We are the keepers of this legacy. Guided by these principles once more, we can meet those new threats that demand even greater effort – even greater cooperation and understanding between nations. We will begin to responsibly leave Iraq to its people, and forge a hard-earned peace in Afghanistan. With old friends and former foes, we will work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet. We will not apologize for our way of life, nor will we waver in its defense, and for those who seek to advance their aims by inducing terror and slaughtering innocents, we say to you now that our spirit is stronger and cannot be broken; you cannot outlast us, and we will defeat you.

For we know that our patchwork heritage is a strength, not a weakness. We are a nation of Christians and Muslims, Jews and Hindus – and non-believers. We are shaped by every language and culture, drawn from every end of this Earth; and because we have tasted the bitter swill of civil war and segregation, and emerged from that dark chapter stronger and more united, we cannot help but believe that the old hatreds shall someday pass; that the lines of tribe shall soon dissolve; that as the world grows smaller, our common humanity shall reveal itself; and that America must play its role in ushering in a new era of peace.

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society’s ills on the West – know that your people will judge you on what you can build, not what you destroy. To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history; but that we will extend a hand if you are willing to unclench your fist.

To the people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds. And to those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to suffering outside our borders; nor can we consume the world’s resources without regard to effect. For the world has changed, and we must change with it.

As we consider the road that unfolds before us, we remember with humble gratitude those brave Americans who, at this very hour, patrol far-off deserts and distant mountains. They have something to tell us today, just as the fallen heroes who lie in Arlington whisper through the ages. We honor them not only because they are guardians of our liberty, but because they embody the spirit of service; a willingness to find meaning in something greater than themselves. And yet, at this moment – a moment that will define a generation – it is precisely this spirit that must inhabit us all.

For as much as government can do and must do, it is ultimately the faith and determination of the American people upon which this nation relies. It is the kindness to take in a stranger when the levees break, the selflessness of workers who would rather cut their hours than see a friend lose their job which sees us through our darkest hours. It is the firefighter’s courage to storm a stairway filled with smoke, but also a parent’s willingness to nurture a child, that finally decides our fate.

Our challenges may be new. The instruments with which we meet them may be new. But those values upon which our success depends – hard work and honesty, courage and fair play, tolerance and curiosity, loyalty and patriotism – these things are old. These things are true. They have been the quiet force of progress throughout our history. What is demanded then is a return to these truths. What is required of us now is a new era of responsibility – a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task.

This is the price and the promise of citizenship.

This is the source of our confidence – the knowledge that God calls on us to shape an uncertain destiny.

This is the meaning of our liberty and our creed – why men and women and children of every race and every faith can join in celebration across this magnificent mall, and why a man whose father less than sixty years ago might not have been served at a local restaurant can now stand before you to take a most sacred oath.

So let us mark this day with remembrance, of who we are and how far we have traveled. In the year of America’s birth, in the coldest of months, a small band of patriots huddled by dying campfires on the shores of an icy river. The capital was abandoned. The enemy was advancing. The snow was stained with blood. At a moment when the outcome of our revolution was most in doubt, the father of our nation ordered these words be read to the people:

“Let it be told to the future world…that in the depth of winter, when nothing but hope and virtue could survive…that the city and the country, alarmed at one common danger, came forth to meet [it].”

America. In the face of our common dangers, in this winter of our hardship, let us remember these timeless words. With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children’s children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God’s grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.

(UPDATE: Looks like a release went out about an hour before I posted this, but contained no details.)

No details at this point, but sources report that the locally-owned Times Argus and Rutland Herald are collectively eliminating 14 jobs – including a reporter and an editor – in the face of the double whammy of the economic downturn and the general decline of the industry. Sounds like morale is rather low, as the assumption is there may well be more cuts to come.

Meanwhile, Shay is reporting further cost-cutting at the Burlington Free Press mandated from Gannett corporate.

This is getting a little scary, actually. There already isn’t enough of a press corps to keep up on what a vibrant press should be keeping up with. Cutting back on reporters is not going to make matters any better, and new media is in no position to pick up the slack, given that the small pool that is Vermont is not enough to support a professionalized site of the likes of Talking Points Memo (at least not under current business models).

The diary immediately below was to be my only one for the week, but The Guardian website up and posted the last piece I wrote for them. Wasn’t expecting to see it today:

According to the Old Testament, Moses led his people out of bondage and through the wilderness, manifesting miracles all the way. Yet when the promised land was finally reached, he was barred from entering it with his people as punishment for the most trivial of transgressions.

It’s a sad story, and you’ve got to wonder if the outgoing leader of America’s Democratic party isn’t relating to it these days.

Former Vermont Governor Howard Dean was the driving force behind the most profound changes to American politics since the civil rights era. As a tertiary candidate for the presidency, he was vaulted from obscurity to the top of the Democratic primary pack in 2004 until his campaign abruptly buckled under its own weight, pressure from political insiders, and the burdens placed on it by Dean’s own legendary impulsiveness. Despite this, Dean continued riding the unprecedented wave of rank-and-file, anti-war enthusiasm fueled by the new media revolution.

…Dean will soon step down (from the Chairmanship of the DNC). Though he spoke publicly of his interest in working in an Obama administration, it was leaked early that Dean wasn’t being considered. Though it may seem bizarre that the Democratic re-ascendence won’t include its chief architect, the die was cast the moment Obama announced that Dean’s nemesis Emanuel was to be his chief of staff. Despite Dean’s undeniable success, the usual suspects still want little to do with him.

Here’s a link to the whole piece. Hop on over and comment if you’re so inclined. I’ve already found they can be a tough crowd way over there.

If you surf the blogs, you’ve probably seen by now that Senator Leahy is plenty po’ed in light of the newly released Inspector General report on the poiticization of the Bush Justice Department. While confirming what we already knew, it also specifically fingers Justice appointee Bradley Schlozman for lying under oath when testifying before the Senate Judiciary Committee. Here are Leahy’s remarks on the floor on the matter.

Schlozman gets hammered in the report, so its impossible not to share Senator Leahy’s anger. Independent from questions about coordinated, large-scale investigations or mechanisms for accountability in regards to the many Bush excesses, it does seem at the very least that this guy should be held to account. Leahy’s attempts to demand accountability and enforce subpoenas on the Bush administration largely fell flat, and we can all certainly argue as to whether he should have or could have done more given a petulant and non-compliant executive branch,

But given that the Bush Administration is about to become no more, it would seem to behoove our senior Senator to demand some accountability, here, and do more than simply offer more verbal condemnations. If political hacks can’t expect punishment for spitting all over Leahy, his committee, and the Senate even when Dems have the Congress and the Presidency, that will send the ugiest of messages.

While there’s a catharsis to hearing one’s opinions echoed by one’s elected representatives, what we really need them to do is to do what we can’t: mete out some justice on these reprobates.

Jim Douglas’s usual MO at the outset of a session is to put out a few lame, marginally-significant-at-best proposals under a cliched title that he’s lifted from some politician somewhere else as his way of having a message base from which to scuttle or sabotage Democratic policy proposals (which, of course, doesn’t stop him from taking full credit for whatever Dem initiatives slip through).

This time is different. Douglas has gone right for the two third rails of Vermont politics – education and Act 250 (in Republicanese – the same language that brought us the heretofore unseen term “partial birth abortion” – the latter is dubbed “permit reform”). Douglas has said he wants to undo the Act 60/68 regime, raid the education fund, do away with income sensitivity, and in the process dump that much more of the state shortfall onto local property taxes. He’s also said that Act 250 should be eviscerated by bringing in criteria that would completely alter its purpose and function in favor of development interests.

The question on many people’s minds is – is Douglas dramatically overreaching, or is he just going whole-hog right-winger because he’s not planning on running again in 2010?

Personally, I think its overreaching, but perhaps not as much as it might appear, as I have this crazy, wildly-speculative notion that there may be method to his madness.

(I wont touch the policies, here, as it gets into the work my employer does, and I would neither want to appear to be speaking from that position, or let drop any points of disagreement I may have with them, but I do want to make a comment on some of the political machinations that may be underway…)

Although both are big issues, the education attack has – and will continue to – get more ink. It’s more straightforward and everyone understands it better. Douglas’s proposals are also DOA. Anybody can see that. They run counter to the economic zeitgeist and pander to his hardcore base, while at the same time will have the effect of healing the rift between the Vermont NEA and the Democratic caucus, blown open last year over the “two-vote” law and the subsequent endorsement of Anthony Pollina over Gaye Symington, by thrusting them onto the same side of a full on policy assault.

So what the hell is he doing?

A theory: perhaps his education proposals aren’t supposed to go anywhere. Education is the easiest, most pavlovian base-roiling issue for the left and the right, but Douglas has never given that much of a damn about the issue beyond soundbite base-fodder. What he does care about is giving free rein to developers. If you look at many of the croneys he taps for campaign assisstance and situates close to him, they aren’t the Libby Sternbergs and the Curt Hiers of the GOP-education wing, they are folks like Tayt Brooks from the development crowd. When he had a chance to fill a legislative vacancy in Montpelier, he went for development lawyer Jon Anderson. This is his crowd.

Going after Act 250 as he’s doing was bound to make a big noise. He also has enough allies he might get somewhere with it under the guise of economic development in an economic downturn. It may have occurred to him that making a bigger noise might give him room to maneuver among legislators, the press and the public. And unlike his education attack, his Act 250 attack may have some chance of getting somewhere.

One of my favorite moments in Vermont-native Frank Miller’s miniseries The Dark Knight Returns is when Batman is asked why, if he’s trying to be all sneaky, does he have a bat image on his chest in a bright yellow circle for all to see. Batman responds that, since his head is not armored and his chest is, he wants to give the bad guys something to shoot at.

I find myself wondering if Douglas isn’t simply giving us all something to shoot at while he pursues his primary goal.

Some of you may have been following the Soapblox saga since yesterday here and nationally (I understand its even being picked up by a couple national media sources). Basically, the long and the short is that Soapblox is the system that suports nearly all the local netroots sites, GMD included. It's been built and run by basically one guy in his spare time, and for very little in return.

Of late, he hasn't been able to keep up with the hackers, who have gotten in and used the servers for further mischief, getting his ISPs to turn on him. He decided he couldn't take it anymore after a weekend hack and was gonna hang it up, putting, like, 95% of the progressive netroots in peril (along with local sites, Soapblox supports national sites like Open Left, My Left Wing, Pam's House Blend and others).

SO… the national lefty blogging community is banding together to help Paul out and give him some support, and in the short term, that means a drive to get the sites onto uncompromised servers, do security audits, beef up the code, etc. Chris Bowers at Open left has taken the initiative to set up an Act Blue-based fundraising push through BlogPAC (which pays our hosting fees and has been the major financial supporter of Soapblox) to save the day, and to begin the process of stabalizing what has proven to be an unstable situation.

I encourage you to click on the link and pitch in what you can, and in doing so support not just GMD but the entire new media progressive infrastructure nationally. A more detailed account/explanation can be found at Chris's diary here. Thanks!

From Welch-land:

WASHINGTON, DC – Rep. Peter Welch was appointed to three subcommittees of the House Energy and Commerce Committee Thursday:

·       Subcommittee on Energy and Environment

o       National energy policy, environmental protection, solid and hazardous waste, fossil fuels and renewable energy, utility regulation, nuclear energy and waste, the Clean Air Act

·       Subcommittee on Communications, Technology, and the Internet

o       Telecommunication and information transmission by broadcast, radio, wire, microwave, satellite or other mode

·       Subcommittee on Oversight and Investigations

o       Oversight of agencies, departments and programs within the jurisdiction of the full Committee

Hoo-boy. If you thought the man got a lot of bandwidth on this site before….

Not only is it a new year – and very nearly Green Mountain Daily’s 3rd birthday – but in the last week we crossed a mini-milestone with the arrival of our first few user-numbers into 4 figures (welcome to user D.R. who was the first to cross the threshold). Now there are a handful of clear sock puppets, so we’re clearly not at 1002 actual unique registered users, but pretty dang close in any event (and many, many more unregistered ones as well).

For the beginning of 2009, there will be a couple tweaks to the lineup. First of all, Christian Avard is, for the moment, returning to “emeritus” status (joining the distinguished emeriti on the right-hand side). All this means is that, while you’ll still see content from him when he feels like it and he can still represent the site, he doesn’t get poked at behind the scenes if he hasn’t posted in a month.

The other lineup change is that I will be stepping down my own contribution level quite a bit. I’ll still post about once a week or so, but I’m stepping back for the next couple months to use my spare time to work on a book project (yes, its political, and yes its somewhat Vermont-connected, but that’s all I’m saying for now…) To take up some of the workload, greenvtster has agreed to step up and cover some of the front page duties while I’m on sabbatical. greenvtster is a longtime member of the GMD community and is very plugged in to Vermont issues.

This is gonna be one hell of a session, and the stakes are gonna be as big as the ideological battles – particularly on social services and the environment, which the Douglas Administration is already signaling they’ll be going after with great aplomb. I expect great things from the new House Leadership team and there’s going to be a huge need for citizen involvement, so it feels kinda crazy to be backing off now, but with any luck it will all be worth it. Stay tuned…

At any rate, you’ll all be in the hands of the crack GMD front page team of Jack McCullough, kestrel9000, JulieWaters, JDRyan, Caoimhin Laochdha, Maggie Gundersen and greenvtster with the likely occasional support from the emeritus squad of Christian Avard, Kagro X, NanuqFC, Vermonter and mataliandy – all of whom are much smarter and more entertaining than I, and make fewer typos. They’ll all do the heavy lifting (or rather, all the heavy lifting, as they were already doing it…) while I just drop in occasionally to do the Andy Rooney thing (oh yeah, and if the site breaks, it’ll still be my fault too).

Speaker Smith is wasting no time and has hit the ground with a stimulus proposal that likely puts him on a collision course with the Douglas/Lunderville desire to exploit the financial crisis to starve off state Government.

Smith is proposing a public works infrastructure investment program, modeled after a proposal of former Governor Snelling’s during the early 80s recession. The program would be “a major reinvestment in Vermont’s crumbling transportation infrastructure.”

The $150 million for the two-year plan would be funded by $30 million in general fund bonding and another $120 million in transportation bonding, would be focused on Vermont business to create and sustain jobs. It would be implemented over the next 6 to 18 months. the idea, of course, is that targeting infrastructure for a stimulus will further enhance tourism and other economic development.

It’s a good idea, and it represents an excellent sign that the new House leadership has its economic head on straight. We’ll need to encourage and support them to show the same good sense when social services and environmental protections get put on the chopping block by the Governor. Make no mistake, the pressure is going to be intense as Douglas is seeing his opportunity to eviscerate both.

The complete abstract of the Speaker’s proposal is below the fold.

As the Vermont Legislature reconvenes to confront our state’s immediate economic crisis, Speaker Shap Smith and Democratic leadership in the House called for a $150 million economic recovery package to keep Vermonters working now and in the future.

The centerpiece of Speaker Smith’s Economic Recovery proposal is a public works employment program modeled after a program championed by Governor Richard Snelling in 1983.  Additionally, the new Speaker called for a major reinvestment in Vermont’s crumbling transportation infrastructure.

Speaker Smith’s plan is part of the Democratic House’s overall agenda to keep all Vermonters working, warm and well through the current crisis and for the future.

? Immediate Need ?

Vermont’s economy is at an important crossroad.  We cannot rely on federal action alone to move Vermont forward as we confront our immediate economic crisis.

Already, unemployment rates are at the highest levels since 1993 and are still climbing. It is very possible that unemployment could rise to levels not seen since the 1973 downturn, when it peaked at 10.5 percent.

Vermont housing starts during the last 12 months were at their lowest level since statistics in a comparable form began to be collected in 1969.

Finally, consumer spending – which represents two-thirds of the economy – continues to decline nationally. While figures to date indicate that Vermont is faring slightly better that the nation as a whole, nationally the year over year change is worse than -8 percent, the largest drop since the 1983 recession. Economists expect consumer spending to continue to decline.

? Strategic Investments ?

In the face of these critical challenges, it is more important than ever that the state make strategic investments in Vermont, its businesses and its people to ensure all Vermonters weather the current storm and to build lasting opportunities for our future.

In this critical time, Vermonters and Vermont businesses need income generating opportunities to keep the economy healthy.  As businesses make decisions about where to make their future investments, they are looking to us for assurances that the infrastructure they need to succeed in a competitive, global economy will be in place here in Vermont.

And, since tourism remains an important part of the Vermont economy during both downturns and recoveries, we must ensure this sector remains strong.

? Keeping Vermonters working ?

On the opening day of the legislative session, Speaker Smith called for a bond-based public works jobs program modeled after a program developed by Governor Snelling and the legislature in 1983.

Speaker Smith proposed a $150 million two-year program consisting of $30 million in general fund bonding and $120 million in transportation related bonding as quickly as possible with the following three goals:

1. Implement projects that employ Vermonters and Vermont businesses, including the $10 million public works jobs program that targets Vermont’s unemployed, underemployed and youth.

2. Create jobs and develop projects that strengthen our infrastructure including our roads, park system, overall economic capacity and other critical state needs.

3. Implement projects and create jobs within the next 6 to 18 months.

Using the existing general fund bonding capacity, Speaker Smith asked the newly constituted Institutions Committee to develop a public works jobs program that puts Vermonters to work and increases the value of state assets.  Examples of potential projects could include improvements to State Parks, water quality projects or construction and improvements to state offices.

Additionally, the Speaker called for an evaluation of future state investments in existing housing stock and support for our local businesses.  He emphasized the importance of employing Vermonters in ways that will position us to take full advantage of the economic recovery when it comes.

The Speaker also asked the Transportation Committee to analyze a variety of projects for state investment, including:

• Increased funding for state and local roads and bridges where maintenance and reconstruction today can avoid future costs;

• Capital projects to strengthen our public transit system such as buses and park and rides; or,

• Major infrastructure projects including improvements to the state-owned rail system or upgrades of airport access and facilities.

Speaker Smith asked the committees to develop programs that provide jobs for the men and women of Vermont.

Funding sources:

• For the current fiscal year, the capital bill included $54.65 million for general fund projects and $10 million for transportation projects.

• For the next fiscal year, the Debt Affordability Committee has recommended $69.995 million in bonding, which includes $10 million for transportation funding.  For FY 2010 and 2011 the full $15 million increase over FY 2009 authority will be targeted for general fund projects.

• The Legislature will consider the Treasurer’s $120 million revenue bond proposal to fund transportation projects now.  With the economic weakness we are facing and the low price of oil – typically a major expense for projects – this is an excellent time for transportation construction activities.  The Ways and Means committee will look at the Motor Fuels Distributor Infrastructure Assessment or other assessments that can be used to create a revenue bonding initiative as the Treasurer proposed.

• The Treasurer is anticipating going to market for approximately $57 million of this authorization in early March which, when combined with other year’s unissued bonding authority, leaves $11.6 million authorized and unissued bonding capacity.  Vermont needs to consider expedited use of authorized debt to maximize project spending capacity to keep Vermont working.