TO THE EDITOR: THE NORTHFIELD NEWS OUR STATE'S 2010 legislative session has adjourned, and the message from the Vermont Chamber of Commerce is one for the record books: victory for Vermont's business community. In the most challenging fiscal environment in decades, businesses in Vermont applied pressure and as a result, the Republican administration and the Democrat-led Legislature eventually came together to create an environment in Vermont that encourages business growth and economic prosperity.

As the president of the Vermont Chamber of Commerce, I challenge my colleagues across the country to take a quick glance at our accomplishments here in 2010 and not be impressed. Our state is a deep "blue," reflected in the Vermont House of Representatives and the State Senate, neither of which, based on party numbers alone, could sustain a veto by the Republican Governor Jim Douglas. With these political factors and the current budget environment, the odds of achieving tax cuts, solving the unemployment insurance crisis and increasing funding for key economic development programs seemed like a long shot in January.

Yet, in the ensuing months, like a whisper growing to a cheer, business leaders galvanized employers' efforts, pressing Montpelier for action. Businesspeople from all corners of the state came to the Statehouse to tell legislators what was needed for job growth. These leaders that employ our neighbors, friends, and families, said first, "do no harm." Second, "stop choosing industry winners and just give us a fair tax policy." And third, "help solve the unemployment insurance crisis in a balanced way."

With a keen ear, legislative leaders finally listened. Legislators acted in favor of key business positions, despite a political environment comprising key legislators running for higher office, with a minority whose numbers make it difficult to challenge the majority, and with a governor whose influence was predicted to wane with each passing day into his looming retirement. So what did our lawmakers and administration come together to accomplish?

• Rolling back the capital gains tax to allow a 40 percent exemption for Vermont investments.

• Amending the estate tax to allow small businesses and farms to pass on their equity to their families without an added penalty.

• Balancing the budget that closed a $150 million gap without raising taxes.

• Allowing a pass-through of the federal production deduction tax exemption so Vermont manufacturers and other producers can continue to thrive in Vermont.

• Increasing the cap on the Vermont Economic Growth Initiative to allow more companies to grow Vermont jobs and increase capital investments. Passing a comprehensive unemployment insurance plan to bring the fund back into solvency without extending employers into more years of high-cost borrowing.

• Increasing tourism funding in this fiscal year to promote our great state, particularly to the 80 million people who live within a day's drive of Vermont.

• Boosting workforce training funding to ensure that workers' skills keep pace with employers' needs.

• Delivering an $8.75 million jobs package with increased funding for low interest business loans, the Vermont Telecom Authority to expand broadband access, and the Seed Capital Fund to encourage business growth.

The Vermont Chamber of Commerce commends the work of all policy leaders but particularly wishes to acknowledge the Douglas administration and Lt. Gov. Dubie for formulating an agenda that focused on economic prosperity as well as the legislative leadership team of Speaker of the House Shap Smith and Senate President Pro-Tempore Peter Shumlin who deserve credit for continuing negotiations and compromising on this set of issues in a difficult budget year. And the minority party in the House stood firm on these issues and ensured that the leaders had a few more days to work out the details of such a far-reaching compromise.

And finally, the Vermont Chamber appreciates Sen. Vince Illuzzi, R-Essex/Orleans, whose leadership of the Senate Economic Development Committee spearheaded the passage of the jobs package using federal stimulus funds. Illuzzi was also the catalyst for a comprehensive unemployment insurance fix, urging the administration and the Legislature to the negotiation table on this complex issue.

Of course, like any other state, Vermont still has its challenges — streamlining permitting for development, accessing capital, and lowering electricity costs, to name a few — but certainly, given the depth of our economic crisis, this session was certainly a win for the business community and for job creation.

BETSY BISHOP President, Vermont Chamber of Commerce.