By JOHN FLOWERS
MIDDLEBURY — In his three previous successful gubernatorial bids, incumbent Middlebury Republican James Douglas has been able to cite a litany of priority issues to tackle while in office, including property tax reform, improving health care access and fixing the state’s roads and bridges.
This year, Douglas — and indeed other candidates for statewide office — are seemingly unified in rallying behind a single, dominant campaign issue: dealing with the sagging economy and its effect on the state budget.
Douglas is being challenged this year by Jericho Democrat Gaye Symington and Middlesex independent Anthony Pollina.
“The economy; that’s the major concern on the minds of everybody,” Douglas said during a recent interview at the Addison Independent. “It’s the top priority our state is going to face during the next couple of years.”
Thankfully, Douglas said, Vermont is contending with an economic slowdown that is less pronounced than other regions of the country.
“We have done well compared to other places, in terms of the national slowdown,” Douglas added. “Our banks are strong; they didn’t issue risky loans, to the extent that other states did. The foreclosure rate is low here. (Vermont banks) have cash to lend. Our financial system, locally, is in good shape.”
Still, Douglas noted Vermont is not “immune to the impact of what is going on around the nation and the world.”
Like Lt. Gov. Brian Dubie, Douglas noted the extent to which many elderly Vermonters are dependant on investment income that has been taking a hit in the stock market.
“One report I saw indicated we are number one in terms of the percentage of our income tax receipts that come from capital gains,” Douglas said. “So when those gains disappear, as they are likely to for the next year or so, our general fund revenues are going to take a hit.”