{"id":48381,"topic":"ai","source":"WCAX","title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","url_hash":"9db42db66f1ffd0ca62e47612f09f3dee104ec8e","author":"","summary":"Vermont revenues holding steady as economists warn of AI-driven market risk WCAX","content":"MONTPELIER, Vt. (WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies.\nVermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface. Economists say artificial intelligence’s multi-billion dollar explosion is fueling about 75% of the stock market’s growth. And that’s continuing to fuel spending, especially among high earners.\n“It’s a big bet, and the whole country is in on this bet,” Tom Kavet, Vermont’s legislative economist.\n“The big question is if, and if so when, will the capacity of the economy to absorb what’s going on run out,” said State Economist Jeff Carr.\nGov. Phil Scott, whose administration will use this economic forecast to build a budget proposal for next year, is leery that AI is getting ahead of us. He says Congress needs to better regulate it to make sure there won’t be an economic crash if the AI bubble pops.\n“That’s something that keeps me up at night,” Scott said. “Where are we going with AI and how much are we going to let it keep dominating everything?”\nAcross all state funds, economists are expecting steady growth of just over 1%. But they say there are some other weaknesses in the economy, including the mass deportation of immigrant workers, increased prices from tariffs, and inflationary pressures from the war in Iran.\nDemocrats, who control a majority in the Legislature, say budget writers will need to take a measured approach.\n“I started saying last year, I started saying the year before, we have to be careful about how we spend our money and make sure we spend it as wisely as we can,” said Rep. Robin Scheu, D-Middlebury.\nThis is the last state economic forecast until the legislative session kicks off in January, when there will also be a newly elected Legislature.\nCopyright 2026 WCAX. All rights reserved.","image_url":"https://gray-wcax-prod.gtv-cdn.com/resizer/v2/KL5P4EBBDRBQDAEOMESG5I7IXM.jpg?auth=7c31b21db0bbe5e56089b54e4d6f440fd23d37a8faedace3a0b906610a306aa6&width=1200&height=600&smart=true","lang":"en","published_at":"2026-07-28T21:11:00+00:00","fetched_at":"2026-07-28T22:15:05+00:00","status":"read","starred":0,"extract_state":"ok","summary_auto":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface.","cluster_id":null,"extract_retries":0,"extract_error":null,"contract_version":"news_item.v1","format_contract_version":"news_item_formats.v1","dedup_url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1993 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1993,"summary_length":347,"usable_text_length":1993,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1993,"summary_length":347}},"news_item":{"id":48381,"canonical_url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","source_url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","source_name":"WCAX","author":null,"published_at":"2026-07-28T21:11:00+00:00","locale":"en","topic":"ai","tags":[],"rss_summary":"Vermont revenues holding steady as economists warn of AI-driven market risk WCAX","full_text":"MONTPELIER, Vt. (WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies.\nVermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface. Economists say artificial intelligence’s multi-billion dollar explosion is fueling about 75% of the stock market’s growth. And that’s continuing to fuel spending, especially among high earners.\n“It’s a big bet, and the whole country is in on this bet,” Tom Kavet, Vermont’s legislative economist.\n“The big question is if, and if so when, will the capacity of the economy to absorb what’s going on run out,” said State Economist Jeff Carr.\nGov. Phil Scott, whose administration will use this economic forecast to build a budget proposal for next year, is leery that AI is getting ahead of us. He says Congress needs to better regulate it to make sure there won’t be an economic crash if the AI bubble pops.\n“That’s something that keeps me up at night,” Scott said. “Where are we going with AI and how much are we going to let it keep dominating everything?”\nAcross all state funds, economists are expecting steady growth of just over 1%. But they say there are some other weaknesses in the economy, including the mass deportation of immigrant workers, increased prices from tariffs, and inflationary pressures from the war in Iran.\nDemocrats, who control a majority in the Legislature, say budget writers will need to take a measured approach.\n“I started saying last year, I started saying the year before, we have to be careful about how we spend our money and make sure we spend it as wisely as we can,” said Rep. Robin Scheu, D-Middlebury.\nThis is the last state economic forecast until the legislative session kicks off in January, when there will also be a newly elected Legislature.\nCopyright 2026 WCAX. All rights reserved.","excerpt":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface.","extraction":{"state":"ok","confidence":0.9,"error":null,"explanation":"High confidence: full text extraction produced 1993 characters.","diagnostics_url":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1993 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1993,"summary_length":347,"usable_text_length":1993,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1993,"summary_length":347}}},"display_formats":["compact","card","full","digest_section","json"]},"daily_stack_record":{"title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","summary":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface.","source":"WCAX","date":"2026-07-28T21:11:00+00:00","content":"MONTPELIER, Vt. (WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies.\nVermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface. Economists say artificial intelligence’s multi-billion dollar explosion is fueling about 75% of the stock market’s growth. And that’s continuing to fuel spending, especially among high earners.\n“It’s a big bet, and the whole country is in on this bet,” Tom Kavet, Vermont’s legislative economist.\n“The big question is if, and if so when, will the capacity of the economy to absorb what’s going on run out,” said State Economist Jeff Carr.\nGov. Phil Scott, whose administration will use this economic forecast to build a budget proposal for next year, is leery that AI is getting ahead of us. He says Congress needs to better regulate it to make sure there won’t be an economic crash if the AI bubble pops.\n“That’s something that keeps me up at night,” Scott said. “Where are we going with AI and how much are we going to let it keep dominating everything?”\nAcross all state funds, economists are expecting steady growth of just over 1%. But they say there are some other weaknesses in the economy, including the mass deportation of immigrant workers, increased prices from tariffs, and inflationary pressures from the war in Iran.\nDemocrats, who control a majority in the Legislature, say budget writers will need to take a measured approach.\n“I started saying last year, I started saying the year before, we have to be careful about how we spend our money and make sure we spend it as wisely as we can,” said Rep. Robin Scheu, D-Middlebury.\nThis is the last state economic forecast until the legislative session kicks off in January, when there will also be a newly elected Legislature.\nCopyright 2026 WCAX. All rights reserved.","confidence":0.9,"diagnostics_url":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","quality_bucket":"high","failure_kind":"none","retryable":false,"quality_reason":"High confidence: full text extraction produced 1993 characters.","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1993 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1993,"summary_length":347,"usable_text_length":1993,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1993,"summary_length":347}},"tags":[]},"fallback_formats":["markdown","json","html"],"actions":{"read":"/item/48381","export_markdown":"/api/items/48381/export?format=markdown","export_json":"/api/items/48381/export?format=json","diagnose":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/"},"formats":{"full":{"id":48381,"title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","source":"WCAX","author":null,"published_at":"2026-07-28T21:11:00+00:00","locale":"en","topic":"ai","tags":[],"excerpt":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface.","full_text":"MONTPELIER, Vt. (WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies.\nVermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface. Economists say artificial intelligence’s multi-billion dollar explosion is fueling about 75% of the stock market’s growth. And that’s continuing to fuel spending, especially among high earners.\n“It’s a big bet, and the whole country is in on this bet,” Tom Kavet, Vermont’s legislative economist.\n“The big question is if, and if so when, will the capacity of the economy to absorb what’s going on run out,” said State Economist Jeff Carr.\nGov. Phil Scott, whose administration will use this economic forecast to build a budget proposal for next year, is leery that AI is getting ahead of us. He says Congress needs to better regulate it to make sure there won’t be an economic crash if the AI bubble pops.\n“That’s something that keeps me up at night,” Scott said. “Where are we going with AI and how much are we going to let it keep dominating everything?”\nAcross all state funds, economists are expecting steady growth of just over 1%. But they say there are some other weaknesses in the economy, including the mass deportation of immigrant workers, increased prices from tariffs, and inflationary pressures from the war in Iran.\nDemocrats, who control a majority in the Legislature, say budget writers will need to take a measured approach.\n“I started saying last year, I started saying the year before, we have to be careful about how we spend our money and make sure we spend it as wisely as we can,” said Rep. Robin Scheu, D-Middlebury.\nThis is the last state economic forecast until the legislative session kicks off in January, when there will also be a newly elected Legislature.\nCopyright 2026 WCAX. All rights reserved.","reading_time_min":2,"extraction":{"state":"ok","confidence":0.9,"error":null,"explanation":"High confidence: full text extraction produced 1993 characters.","diagnostics_url":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1993 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1993,"summary_length":347,"usable_text_length":1993,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1993,"summary_length":347}}},"quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1993 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1993,"summary_length":347,"usable_text_length":1993,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1993,"summary_length":347}},"actions":{"read":"/item/48381","export_markdown":"/api/items/48381/export?format=markdown","export_json":"/api/items/48381/export?format=json","diagnose":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/"}},"digest":{"id":48381,"title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","source":"WCAX","topic":"ai","published_at":"2026-07-28T21:11:00+00:00","excerpt":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax revenues are right on track, and Vermont is able to pay its…","quality_bucket":"high","quality_reason":"High confidence: full text extraction produced 1993 characters.","reading_time_min":2,"cluster_id":null},"card":{"display_title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","subtitle":"WCAX · 2026-07-28","summary":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax…","badges":["quality:high"],"links":{"read":"/item/48381","original":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","diagnose":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/"},"quality_warning":null},"export":{"title":"Vermont revenues holding steady as economists warn of AI-driven market risk - WCAX","url":"https://www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","summary":"(WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies. Vermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface.","source":"WCAX","date":"2026-07-28T21:11:00+00:00","content":"MONTPELIER, Vt. (WCAX) - State economists told a panel of top lawmakers and the governor Tuesday that Vermont’s economy is still humming along, but its continued health is dependent on the outcome of emerging technologies.\nVermont tax revenues are right on track, and Vermont is able to pay its bills, but there is a considerable amount of risk under the surface. Economists say artificial intelligence’s multi-billion dollar explosion is fueling about 75% of the stock market’s growth. And that’s continuing to fuel spending, especially among high earners.\n“It’s a big bet, and the whole country is in on this bet,” Tom Kavet, Vermont’s legislative economist.\n“The big question is if, and if so when, will the capacity of the economy to absorb what’s going on run out,” said State Economist Jeff Carr.\nGov. Phil Scott, whose administration will use this economic forecast to build a budget proposal for next year, is leery that AI is getting ahead of us. He says Congress needs to better regulate it to make sure there won’t be an economic crash if the AI bubble pops.\n“That’s something that keeps me up at night,” Scott said. “Where are we going with AI and how much are we going to let it keep dominating everything?”\nAcross all state funds, economists are expecting steady growth of just over 1%. But they say there are some other weaknesses in the economy, including the mass deportation of immigrant workers, increased prices from tariffs, and inflationary pressures from the war in Iran.\nDemocrats, who control a majority in the Legislature, say budget writers will need to take a measured approach.\n“I started saying last year, I started saying the year before, we have to be careful about how we spend our money and make sure we spend it as wisely as we can,” said Rep. Robin Scheu, D-Middlebury.\nThis is the last state economic forecast until the legislative session kicks off in January, when there will also be a newly elected Legislature.\nCopyright 2026 WCAX. All rights reserved.","confidence":0.9,"diagnostics_url":"/api/diagnose?url=https%3A//www.wcax.com/2026/07/28/vermont-economists-say-ai-is-driving-state-economy-risks-loom/","quality_bucket":"high","failure_kind":"none","retryable":false,"quality_reason":"High confidence: full text extraction produced 1993 characters.","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 1993 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":1993,"summary_length":347,"usable_text_length":1993,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":1993,"summary_length":347}},"tags":[],"format_contract_version":"news_item_formats.v1"}}}