Vermont property owners could pay millions for Lake Champlain cleanup

MONTPELIER, Vt. - Vermont State Treasurer Beth Pearce says more than $115 million should get poured into Lake Champlain cleanup every year. The problem is Vermont's cash flow dedicated to the issue only amounts to $55 million.

"The state is involved in this, the private sector is involved in this, the municipalities are involved in this. We're all in this together to solve the problem," said Pearce, D-Vermont.

Just looking at cleanup required by the federal government, the state falls $50 million short every year of the 20-year term. Pearce says the private sector and municipalities will be on the hook for all that cash if the state doesn't help pick up the tab. She suggests covering half of the yearly due by borrowing from creditors over the next two years while lawmakers settle on a long-term, stable revenue stream.

"It is our hope that we can do this without raising taxes, without raising fees," Pearce said.

Read more: http://www.wcax.com/story/34277633/vt-property-owners-could-pay-millions-for-lake-cleanup