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Phil Scott: “That's $3 billion in public and private funding just to fill…”

Featuring: Phil Scott, Republican | Governor of Vermont

Vermont Gov. Phil Scott's 2024 State of the State Address

Published January 4, 2024 | Video Starts at 34:07

Right now, most of our funding goes to homes that cost on average $450,000 per unit to develop. $450,000. So That's $3 billion in public and private funding just to fill the gap we have today. With these costs in mind, I think most of us would agree something's got to change. (34:07–34:14)

CLAIM

Asserts that $3 billion is needed to address the current housing gap.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Phil Scott

“Resolved by the Senate and House of representatives that the two houses meet in joint assembly on Thursday, January 4, at 2 o'clock in the…”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 11:15-11:29
“I move that a committee of six be appointed by the chair to wait upon His Excellency the Governor and escort him into this chamber for the…”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 11:37-11:48
“As of 2022, we have 14,000 fewer kids under the age of 18 than we did in 2010.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 19:02-19:11
“During that same period, we have 28,000 fewer adults ages 40 to 54, which is the core of our workforce.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 19:11-19:21
“We have 48,000 more over the age of 65.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 19:22-19:27
“Vermont's ratio of older residents to working age people will continue to rise, placing a greater burden on workers.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 20:00-20:09
“The biggest obstacle we face to economic sustainability is a shrinking workforce.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 20:19-20:26
“Our demographic crisis is without question, the greatest challenge we face as a state.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 20:34-20:43
“In 2017, Vermont had the second lowest property and second lowest violent crime rates in the nation. In 2022, we dropped to 18th and 8th.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 22:14-22:29
“In the last 10 years, violent crime reported to police increased 56%, aggravated assault by 65%, sexual assault by 76% and homicide by 166%.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 22:28-22:45
“In three weeks, I'll present my budget for fiscal year 2025 and it will be a much different picture than previous years.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 24:26-24:36
“You can expect my budget will increase by about 3%.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 25:27-25:31
“The federal government just announced this increase for those on Social Security, which is 3.2%.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 25:59-26:06
“The 20% increase in DMV fees began three days ago.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 27:33-27:45
“If nothing changes, we'll see an estimated 18.5% increase in statewide property tax bills.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 27:37-27:45
“This would be a quarter billion dollar tax increase on Vermonters.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 27:56-28:01
“For a family with a $250,000 home, their bill could go up by $650 a year.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 28:01-28:09
“With a $400,000 home, you could pay an additional thousand dollars.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 28:09-28:16
“The vast majority will still see an increase [in property taxes].”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 28:15-28:24
“Inflation is still making everything more expensive.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 29:07-29:12
“The payroll tax you passed last year will take effect in July.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 29:12-29:29
“We have fewer than 83,000 pre K through 12 students.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 30:12-30:23
“The education fund is now more than $2.1 billion.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 30:13-30:18
“We're spending about $25,000 a year per student.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 30:22-30:29
“Since March of 2020, we've invested over 500 million to fix vacant units, construct new homes and expand shelter capacity.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 32:44-32:56
“The 37 million dollar housing bond we passed in 2017 was the biggest investment we'd ever made.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 32:58-33:08
“Overall, we're seeing about 2200 residential units permitted each year.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 33:27-33:33
“About one third of these, around 700, are state funded.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 33:33-33:38
“We need 6,800 units to meet current demand and create a healthy market.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 33:39-33:52
“Most of our funding goes to homes that cost on average $450,000 per unit to develop.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 33:54-34:02
“Act 250 did exactly what it was intended to do. Slowed down growth, in some cases stopped it altogether.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 34:44-34:53
“If we don't truly address Act 250, we won't solve our housing crisis.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 35:27-35:34
“By jump starting housing for working families, we can revitalize communities, refill our schools, and make our neighborhoods more inviting.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 36:27-36:36
“The opportunity we have with the federal CHIPS act to build an innovative tech hub and expand semiconductor manufacturing.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 37:39-37:48
“Our Refugee Resettlement office, which along with many Partners has helped 500 refugees get settled.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 37:50-37:58
“With $1 billion from ARPA, we've invested over 500 initiatives.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 40:56-41:03
“We've invested over 500 initiatives in 160 towns and cities all over the state, in 14 counties.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 40:59-41:08
“A flood damaged grocery store in Windsor county was filled with neighbors mucking out.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 43:41-43:47
“Bob Nelson opened his hardware store still without power and surrounded by damaged shelves and destroyed inventory.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 44:20-44:26
“Andy and Ally Ackerman started their own business, a lemonade stand, giving every single penny of the $700 they made to help the Hardwick…”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 44:38-44:52
“Park owners Ken and Martha Harvey moved damaged homes, cleaned up lots and filled out FEMA paperwork.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 45:05-45:28
“Sean Caro began taping receipts for free meals on his front window for folks to claim.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 45:48-46:00
“Families in Coventry worked to provide a few swings and other basics and then rallied support to help finish the job.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 46:38-46:45
“Residents of Wallingford brought back Wallingford Day, a day to celebrate who they are.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 47:16-47:27
“In Guilford, they worked to bring this historic community space [grange hall] back to life.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 48:07-48:13
“Residents formed a trust to purchase the building and keep this local hub [East Calais general store] alive.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 49:02-49:08
“The East Kalais General Store reopened its doors in October.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 49:11-49:16
“We desperately need [the National Guard], and they need more of you.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 55:33-55:33
“Strengthening our communities, connecting with our neighbors, doing our part. How we're big or small is how we prove there is a better way.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 56:52-57:03
“Reject partisanship. Do what's best for the people we're here to serve.”
Vermont Gov. Phil Scott's 2024 State of the State Address | Uploaded January 4, 2024 | 57:54-57:59