Lawmakers draft school funding plan based on income tax

Rep. Janet Ancel, chair of the House Ways and Means Committee. Photo by Mike Dougherty/VTDiggerA House panel is drafting an education finance bill that would lower the property tax and implement a new income tax to support the state’s schools.The income tax would be based on adjusted gross income. A payroll tax would be applied to wage earners. Property owners who earn $47,000 or less would pay no income tax.The plan, which has broad support in the House Ways and Means Committee, is expect