What “Paying Just a Little More” Really Means

An analysis of the new payroll tax that hit this month

Vermonters who don’t pay close attention to politics may have been surprised this month (July 2024) to find their paychecks a little lighter than expected, the result of a new payroll tax passed into law last year (Act 76). According to the Joint Fiscal Office, this 0.44 percent tax (0.11 percent for the self-employed) applies to everyone who earns a pa…