 Well, good afternoon everyone. Thank you all for being here. We're here today to share some good news for our economy Vermont employers and those in our workforce I'm pleased to be joined by members of my team and representatives from the business community We will share the details of continuing cost reductions in Vermont's workers compensation market As you know two of the top priorities of our administration is to grow the economy adding more people to the workforce But doing so is critical To reversing our demographic crisis that we face and growing our tax base to pay for critical services and important initiatives For our economy and workforce to grow. We must address the high cost of doing business in Vermont One major expense for Vermont businesses is the price they pay for workers compensation insurance a 2017 study from our Department of Financial regulation found that Vermont employers were generally paying 10% more for workers comp than employers in New Hampshire and Maine solely due to Vermont's benefit structure Protecting employees and taking care of them when they're injured on the job is important But we also know the high cost of workers comp insurance has been a factor for some Vermont employers when deciding to move or expand in our state To bypass salary increases for their employers Or delay making a new hire The good news is we can address both That's why I instructed DFR to implement many of the recommendations laid out in their 2017 study Which was designed to reduce workers comp insurance costs without reducing the benefits afforded to Vermont workers These efforts have directly contributed to lower rates and today I'm pleased to announce that workers compensation rates in Vermont are decreasing for the fourth consecutive year This year's decrease represents the largest single-year rate reduction in more than a decade When combined with the rate reductions over the previous three years a Vermont business on average Will pay about 30% less for their workers comp coverage today than they did in 2016 as Well data from the recent workers comp filing shows the Vermont economy is experiencing payroll growth Largely driven by increased wages across all economic sectors in addition to other factors This also should suggest many Vermont businesses are reinvesting these savings in their workforce These good results could only be achieved through the teamwork of everyone in this room and employers and workers across the state our Business community has committed to safer workplaces reducing the frequency and severity of workplace injuries The Department of Labor who has proactively worked with employers on voluntary work workplace safety assessments and best practices Played a factor in that as well The Department of Financial Regulation has been putting into place innovative approaches where appropriate and vigorously reviewing the annual rate filing and the insurance agent industry Including the National Council of Compensation Insurance for working with DFR to implement these initiatives over the past four years These results are important for Vermont businesses And I thank you for your role in playing play that you played in the success At this time, I'd like to turn over to Mr. P check to provide more detail on DFR's most recent efforts. Thank you Thank you, Governor Thank you Governor and thank you everybody for joining us today for this important announcement As the governor stated Vermont has experienced a dramatic decrease in his worker compensation insurance these past three years And now we're pleased to announce the largest rate reduction in more than a decade The new rates will be effective on April 1st 2020 With an across-the-board rate decrease of eleven point six percent in the voluntary market loss cost and a decrease of 12.6% in the assigned risk market When combining these rate reductions over the past four years Vermont has not seen a cumulative rate reduction this significant during any point of the last two decades In 2017 our department took a fresh look at the worker comp insurance insurance space And we completed a detailed study examining the reasons why Vermont businesses were paying a disproportionately high rate Especially businesses in high-risk industries like the dairy industry like the logging industry and the scheme industry Certainly our generous benefit structure for injured for injured employees contributed to higher costs for example Vermont has one of the highest maximum weekly benefit allowances in New England However, our department and the governor was not interested in proposing benefit reductions But rather exploring new and innovative approaches to our current system Now many of the initiatives that I'm about to describe are highly technical But they're also highly impactful for Vermont businesses first DFR improved and refined the actuarial rate calculation, which serves as the basis for all rate setting in this space This has resulted in a more consistent rate that reflects the actual loss in the Vermont business community And in this case has provided premium rate rate relief and greater rate stability We also removed a surcharge that had been applied to the assigned risk market as we determined that experience no longer justified this surcharge Resulting in a 6.7 percent direct premium relief to Vermont businesses in the assigned risk pool We also lowered the mandatory difference in price between the voluntary market and the assigned risk market from 25% to 20% Which more accurately reflected different risks presented in both of those markets and Resulted again in rate relief DFR also took an innovative approach to a specific challenge that had been experienced by log haulers log haulers had paid Disproportionately high worker company insurance comp rates Even though they had experienced no accidents and had a very high safety record Partly those rates were due to the fact that their pool was so small in Vermont Many states in New Hampshire Maine for example had a much bigger pool and their rates were lower because they could rely on their own experience By taking an innovative approach of combining log hooker haulers with contract truckers We were able to reduce their worker compensation premiums by 24% in a single year So that was a very innovative approach to an issue that had been challenging for that industry for quite some time We've also worked with the departments of labor and the departments of forest parks and recreation to establish a new on-site job safety program for non mechanized and mechanized logging operations that when passed will result in a 15% premium credit for those businesses and Finally in this year's filing DFR has revised a rule that will reduce by half the price that certain small businesses Usually one or two person businesses pay for worker compensation coverage that premium relief We believe will lead to increased coverage for small businesses And allow them to put their hard-earned money in other places that will help benefit their company I want to thank some very important stakeholders and members of our DFR team for getting this great work done I first want to thank the National Council on compensation insurance or NCCI represented here by Chris Rice NCCI does a lot of important work in the worker compensation space including gathering data Analyzing trends and ultimately providing our department with recommendations many of the initiatives I just outlined could only be implemented with their open mind and their willingness to work with us and their commitment to Reducing the cost experienced by Vermont businesses as well So thank you very much and also want to thank the steadfast work of folks at the Department of Financial Regulation Without their work. We certainly could not have made the progress that we have made I want to particularly thank the leadership of Deputy Commissioner Kevin Gaffney Rose Raska Jessica Sherpa and Pat Murray here with us today Your work has appreciably moved the needle for Vermont businesses has certainly improved And lowered the cost of doing business in Vermont and that is something that we can all be very proud of so Thank you very much for your good work at this time I would like to introduce Commissioner of Department of Labor Mike Harrington Good afternoon today's announcement is great news for employers in Vermont And is another great example of government and private industry coming together to grow Vermont's economy In recent years the state has seen a decrease in the number and severity of workplace injuries This reduction has played a significant role in lessening the financial burden insurance rates put on employers and in no small way is a Sign of the importance Vermont employers put on safety Within the Department of Labor our workers compensation and safety division includes the Vermont occupational health and safety Administration and the project work safe program these safety initiatives as well as our workers compensation unit are Committed to maintaining the safety of Vermont's workplaces while ensuring Employees who are injured on the job are able to return to work as quickly and as safely as possible Like 22 other states Vermont operates a full state-run OSHA program known as VOSHA in 2019 this team of 11 conducted 308 workplace inspections and received over 50 whistleblower complaints In addition the team provided technical assistance to a multitude of employers Industries and organizations ensuring the safety of more than 300,000 employees that work in our state Similarly our project work safe program which offers voluntary Consultative services for Vermont businesses provides free support to employers through conducting risk-free on-site safety audits Businesses who partner with project work safe are able to address potential hazards before they become violations and in since 2014 project work safe has conducted over a thousand consultations resulting in over six thousand corrected hazards These two programs have had a direct impact in reducing the number and severity of injuries in the workplace Finally through new and targeted initiatives that were just recently mentioned Vermont is working with various industries such as the logging and ski Industries as well as the dairy industry to find new ways to reduce rates and compensatory damages for employers in turn Allowing them to reinvest those savings back into their businesses and their workers I'd like now like to invite Kevin Gaffney deputy commissioner for insurance at the Department of Financial Regulation to share Some more information about the reduction good afternoon The insurance division at the Department of Financial Regulation as Commissioner Pichek mentioned has some key Participants that actually make this program work, and I know he recognized them But I want to specifically explain what role they serve Jessica Sherpa at the insurance division is kind of does the day-to-day operational review of contracts that come to marketplace And she does an excellent job of that She also does a lot of coordination with the Department of Labor on how we triage Consumer inquiries and complaints Rosemary raska has been an integral part of our rate review process some of the details that Mr. Pichek talked about one for example is the surcharge for the signed risk plan that we removed a few years ago The convention at that time was that the surcharge would serve as an incentive for employers to Be safer that if they had a large loss and receive the surcharge they would be more safe and be Operating a more safe manner to avoid a future surcharge We really look at it differently now and we've changed that convention and we're looking at The ways we can incent employers to be safe, but also give them the tools to be safe. So one of those examples is the logger safety program that we've worked with the departments of Labor and Forest Parks and Recreation and Steve monahan with the Department of Labor and Sam Lincoln Deputy Commissioner with Forest Parks and Recreation have been integral parts of that process Last week we actually undertook a series of public meetings held in the three corners of the state in the Northeast and the central Vermont and southern Vermont and Actually engaged in detailed conversations with employers in the forest industry at the table were insurance representatives of insurance companies insurance agents the logger education to advanced professionalism known as leap program was there and We really had a lot of good dialogue and feedback We gave them some tools on what we think Would they could do to be safer in their work and one of the key components of this is actually on-site Observation of their work site. So training in a controlled setting like this is instructive and helpful but the real impact is to observe the work in the woods and We've gotten good feedback from them. We're ready now to move ahead with the actual on-site inspections Several of them have conducted training and are ready to be certified. So when commissioner P check talks about the 15% Decrease we're ready to have those Individual employers get their employees certified to take advantage of that decrease. There's a couple of other just Aspects of the change that are important to note one is we this year with this change in four on four one twenty Reduced in half the minimum payroll requirements for sole proprietors LLCs or partner owners or executive officers of businesses and What this means is right now the rule says you have to just rate it to the state average weekly wage regardless of what the actual payroll is net creates kind of a Barrier sometimes for small employers who are reinvesting in their business Trying to hire two or three additional people and don't can't afford to protect themselves by law They can exempt themselves, but we lowered the barrier in half because we heard that their decision not to protect themselves was more financial then a need to That they didn't see value in the coverage So we've seen actual an example of that at our meetings last week We're one of the employers said he was able with our reduction in the workers comp rates for the forest industry Which has been up to 50% in the last four years To hire an additional person With this change in the rule actually cover himself as the owner Where he wouldn't have otherwise and he has a family to protect and himself to protect so that's good news for the employers It's good news for their ability to expand their business and then another Component of this is outreach. So while we do this We see the insurance industry and the insurance agent in particular as the key cog and educating employers working as liaison between the Employer in the insurance company. So Pat Murray and the insurance division has been participating with myself Sam and Steve Monaghan on the outreach activities So we're finding this a very valuable blueprint for to carry forward to other high-risk industries as we as we move forward with those endeavors at this time with the snow falling and more big snow coming I want to I want to introduce Molly mahar, sorry Molly mahar from the president of Vermont ski industry to the table to talk about how these changes impact her her members On behalf of our member alpine and cross-country ski area members the Vermont ski areas Association would like to thank Governor Scott and His team for their strong support for business Of course, we're talking about workers compensation rate reductions today and that is a great example of that support Thank you to Commissioner Pechak and Deputy Commissioner Gaffney for and the Department of Financial Regulation for doing the detailed analysis And making adjustments in the workers comp rates to further reduce them And I'd also like to thank Commissioner Harrington and the Department of Labor for the willingness to work proactively with our ski areas Through programs like project work safe to do safety audits and increased training to help make our ski areas safer workplaces And I'd also like to commend our ski areas as well for increasing their effectiveness and success in this area Safety in the workplace is not just creating a plan talking to your employees and filing it away in a In a filing cabinet. It takes leadership focus awareness and Daily diligence across all levels of a ski area to have a safe workplace Workers compensation premiums can range into the six figures for some of the larger ski areas Attendant to 14% reduction is a real savings. And of course, it's good anytime. We can reduce the cost of doing business We're talking here about insurance costs dollars and cents But there's another result and the real bottom line is our people They are one of our most important assets and we want and need to keep them safe on the job So they can return home whole at the end of the day and that needs to happen every day Well, thank you Molly and at this point in time We'd like to open it up to questions on topic questions if we could at first What give us into the cumulative savings between The rate change this year and then what we know what it was three years ago or yeah, Mike so You know, it's certainly is millions of dollars if you took the exact Decrease of the rate by the amount of the premium, you know, you're getting a number that's in the 30 to 40 million dollar range But like we've mentioned, there's also been payroll growth. There's been some employment growth as well There's been some additional coverage as well. And that's why we're saying it shows that that savings is being reinvested into the workforce So the savings would be millions and millions well north of, you know $30 million if you did it based on the direct premium and the rate reduction Over the last four years Well, yeah, I would welcome anybody else to come up and answer the question, but every business is different They're different classifications depending on the the type of work you do So there are higher rates lower rates and some of the higher rates are in the The logging industry high-risk businesses and so forth So they will probably reap the most benefits at this point in time But maybe someone from labor or Mike or Well, I mean the one classic example that governor mentioned is sort of you know non-mechanized logging their Rate was over $50 per $100 payroll. So if you were paying someone $100,000 You would have to pay $50,000 in worker compensation costs just for that one employee for that one salary Now the rate is down to under 30. It's around $28 with the premium credit could go down another 15% So just in that example, that would be tens of thousands of dollars of savings for one employee Other industries don't have as high work of compensation costs. So even though there seem great rate reductions They might have less of an aggregate savings, but certainly on the high end. It could be tens of thousands of dollars per employee for Vermont businesses They're not considered a high-risk business, but they are an important industry for Vermont and that's why we called them out in the press release Yeah, I think that's right I mean basically you come up with your rating factor and that's Times the amount of payroll that you have in a particular company and you have different classifications within the business as well depending on the category they work in How So we this year for example have one of the larger decreases in New England The other states have not changed their benefit structure. So there's still an inherent You know increase in Vermont because our benefits are more robust But even that being the case We've still seen rate reductions this year in particular that are greater than some of our surrounding states I think nationally we were like the fifth lowest or the fifth highest if you will rate reduction this year out of about 40 states that do it through public or private insurance. So these are significant nationwide and in the region as well Yeah, so obviously whenever we're going to make a change like that We want to look at who's being benefited and who might not be benefited and all of the initiatives We talked about have only benefited the marketplace the log hauler example for example You know that combined with lot with the contract trucking Dramatically decrease log haulers, but because their experience was so good It actually had a slight positive impact on the contract trucking code as well So we obviously look at that to make sure that there aren't winners and losers We're really trying to figure out ways that we can provide a net benefit to the entire industry To what extent can this be attributed to just the economy and changes that are sort of happening Outside of DFR and I guess someone had mentioned that maybe like less accidents were happening on the job Yeah So I think certainly as the governor said it's a team effort certainly businesses being safer new technologies being implemented by businesses better use of Data and analytics by businesses certainly the work of the Department of Labor making sure that those standards are in place Voluntarily working with businesses as well, but then you know the significant impact of DFR's work I think can't go understated. I mean these certainly have surcharged the decreases that we've seen over the last four years I think you know it can't be overstated the amount of work We've done interagency work and that's been really instrumental in trying to reduce these rates It took it took Sam Lincoln for instance a deputy commissioner to come up and tell us there's there's the suffering in terms of the businesses in the in the Industry logging industry were significant and and they weren't able to compete anymore so that brought the issue to the forefront and then working from there with DFR and the Department of Labor to try and work together to reduce these rates was significant It wouldn't have happened without that joint effort Okay, you'd like to stay you can if you would like to move that's fine President Trump was acquitted in the Senate trial. What is your reaction to that? Yeah, I thought it was it was unfortunate that more witnesses weren't able to come forward I thought it was courageous of Senator Ron Rami to step up and and take the action that he did and Knowing that there may be ramifications as a result when he didn't have to take this step He did and it was shows a lot about his character and integrity We can only hope that if we're in that same similar situation that we we do the same I think about John McCain for instance. I think John McCain, you know, I think about that a lot What would John McCain do and I think that he'd be very proud today of what Senator Omni did Because that's what John McCain would have done based on whatever evidence that he might have Have seen and to draw that conclusion. Is that what you would have done? You know, it's hard to put yourself in that position I can only hope that I would do the right thing and I try and do that every single day But but I can see myself trying to adhere to the same standards that Senator Rami or Senator McCain did Put it another way, after you've heard all of it, it's the rest of the state. How would you have voted on that? Again, hard hard to say without being in that situation without sitting through all the Days and maybe weeks of testimony not understanding all the details But again, I believe that the president abuses powers And and I I'm not a you know, it's hard in some respects for me because I'm not a supporter I didn't vote for the president. I don't believe they should be in office. So I think that At this point in time, he's been acquitted. I think it's for the voters to decide in November whether he should continue in that role Well again that was almost a foregone conclusion if they had taken more testimony Maybe they'd had more information and maybe other senators would have acted Appropriately so without that information, you know, it's hard to say why or what why they were doing what they were doing Yeah, again, I don't I believe he abused his position of power withholding some of those funds is inappropriate and and I believe that I Believe us. Senator Rami did that he shouldn't be in office Again, it's hard for me to say what I would have done exactly. I'm not there. I'm not a senator I didn't sit through all the of the hearings. So I'm just saying I Would hope that I would do the same same thing that senator Rami did did and step and step up and And and do what I thought was right and again, I'm not in the Senate I didn't get a vote But I can only hope that I would do the same thing I don't I don't I wasn't a supporter of the president I didn't vote for him. I didn't support him along the way And I won't vote for him in November but But it was up to the Senate to decide this a political process and and unfortunately They didn't allow more witnesses So we didn't get to hear all the evidence that I think we should have heard you information that you've seen I think he abused his power And I believe I don't believe that you should use that position In the way that he did to affect a future election and and I think that that's what he did Yeah, yeah, I don't think there was a fair trial. I think they should have Had more witnesses. I I said that from the beginning. So I don't believe I think they did harm to the process by not allowing more witnesses and I think that that That most, you know, it's it's probably still split But I would hope that most Americans would believe That that you need all the information you can possibly get to arrive at a decision like this that is so imperative to our country and in our democracy. So I Think that there's a There may be a lack of Faith and and trust and the institution at this point in the process Well, based on you know, I'd listen to his reasoning it made sense to me And again, I wasn't there. I didn't hear all the evidence But but I have a great deal of respect for how he arrived at his decision He did so knowing full well what the ramifications might be So again, I would hope that if I'd heard all the information and come to the same conclusion That I would have the integrity to step up and vote my conscience I'm saying that I have a great deal of respect for Senator Romney and if I had been there as a senator and heard the information and Come to the same conclusion that I would have again the integrity to do what was right And I think he did what he thought was right and I would do what I thought was right if I had all the information Yeah We had I've had been briefed on that and what I've read in the in the media It sounds like this ambiguity in the law And if I think if there is continues to be ambiguity that we should come to some resolution on that or change Change the law to make it clear So the Attorney General did what he thought was right the defender general doesn't believe that that's appropriate And I think the the legislature will probably take a look to see if we should make change in the law to make sure that it's clear Well, I'm not a lawyer so the attorney the Attorney General believes who is representing us as a state Believes it was okay to do within law. So I have to again rely on him for that information Ambiguity it could be ready the way No I have not decided I have till Monday. There are three paths. Obviously Can sign the bill let it go into law without my signature or veto the bill I'm weighing on all three It does not every every issue is separate from my standpoint These things don't these policy reforms don't occur in the package I vote I veto both these measures in the past. Yes, but now that you know that this Again, I will look at this individually and and collective Lee but individually in this case and I'll make a determination by Monday By Monday It won't be Friday it will not be Friday I I think we've agreed over the last couple of years We put forth a plan that would have replaced that Facility amongst many others. It wasn't well received by the legislature But we're still willing to do whatever we can to change the method of incarceration and I believe that we're We've been you know, our department has been working on a different Different way. I think there's a Connecticut plan and there's some others that are out there that we've been been looking at No, no, no, no, it's just a different method of incarceration for Female offenders and it's a step-down approach But but we took a look at that I think we had our Commissioner had gone to Connecticut to take a look at what they're doing and to see if it would be appropriate for Vermont So we're looking at just different different approaches Well, I think this this step-down approach has has some merit and But it would still take another facility to do that So we're willing to work with the legislature on this and to try and determine the press approach as we move forward But but again to reiterate we we believe that the the facilities that we have today are out dated a number of them are Outdated and need to be upgraded Well again, we we have come up with a different approach two years ago And more of a lease purchase a type of arrangement which could have could have worked so That's still on the table as far as I'm concerned The house is likely going to be voting on the marijuana market bill next week The bill has addressed a lot of what you had identified as concerns There's roadside saliva testing with warrants. They're open I think to funding your education prevention initiatives at least some of them including your after-school program with That money that would come from the market Are you hoping that they're going to send you a bill that you can sign this year and that you can sign a Into law in people again. This isn't my initiative. I laid out those three conditions And if they meet them to my Satisfaction, then I'm willing to sign it doesn't sound like what you're hearing that you're going to be able to sign it Sounds as though they're moving in the right direction But but again, I didn't I didn't foresee Any court warrant of any sort. This was a saliva test side Roadside saliva test to the warrants is an issue right you like the saliva test to be legal without Right obtaining a warrant to use it right would that be in and of itself enough for you to that would be enough for me not to support it Governor following yesterday's a failure of the video where I vote It's a fairly normal pot process for us to make sure we know where everyone stands we knew what the vote was Coming out of the house at that point who was in favor and who was not so we wanted to make sure we knew where we stood so we did Had my staff reach out and make sure that the people were going to continue To to either vote vote no or find out what they were going to do In the in the potential veto override. So Yes, we we reached out in a number of different ways as is a normal process in this building to find out where everyone stood They did I found out based on your question from me last night We did find out this morning. We did request to meetings with two different people in this in this Office here none of which that I was Attended but but the staff had one was representative Reed and One was Represented from Inesburg. I'm sorry Yeah represent for guard, I'm sorry represent for guard represent read Well find out if they were changing their position or in the case of represent read for instance, it was just a recent appointment To make sure they understood the process and understood there what what this meant in some respects He had voted in favor. I believe So it was just a just trying to make sure that he understood what what this meant to the whole process I don't know I mean it's always a possibility to risk in this building I've seen it done before another piece of legislation when I was presiding over the Senate You have the next day someone who votes and is on the winning side can ask for reconsideration and I would not be surprised at all if if they weren't the speaker wasn't working on trying to make that happen Anyone Yes They work There are conditions and maybe Mr. Pizza if you could tell us what those are but Yeah, so the concept was that there would be a similar work requirement I think it was a little less than what 107 was requiring so about a thousand hours Maybe a thousand twenty five or something like that from the previous year So that would make somebody eligible on an individual basis, but the employers obviously have the opportunity to voluntarily participate as well And Here this we have a the RFP out now We're hoping to hear I think by next Friday get the response to the RFP And then we have a few months a few weeks We haven't so late March a late March to to negotiate and see what different provisions are being Are being included in those bids and determine who we want to go to but I would I would say that this would Could be put into place at least a year before the other proposal that failed the To pass yesterday, so the other What's that how much more expensive? How much more expensive Voluntary We don't it's hard to know until we get the response to the bids we are anticipating that's going to be under $300 per employer employee per year But but you have to factor in as well. There will be some businesses who might take advantage of this so there instead of being on the on the backs of The worker it could be supplemented by employers as well in some in some cases it might be Included as a benefit. What about someone who you know Their place of business doesn't offer this or that you know, they basically want opt-in themselves Even though no one else at their business does Does opt in is there going to be is that an option? It is it is an option for that person Someone who works somewhere where no one else is opting Well, it's hard to say again until we get the the response But but it is an option for them to to be included in that way Obviously the large of the pool the lower the rates and and hopefully we'll be able to attract more employers and employees And but we'll be able to try it out and see over the next if we put it into place And then we can gather the data from there and determine where we go from, you know, whether it needs to be changed in any way It was it was a it was a letter sent out To to get people active to understand what this meant Because the more people I talked with over the last two weeks The more I think Vermonters were unclear as to who was paying for this And and we just want to bring some clarity to that Yeah tagline at the end sure just like just like any whether it's a media source like BPR or Vermont Digger is always a tagline to donate to this cause Not active no, but we have some volunteers that are Hoping that we'll be able to position ourselves to make a decision And give us flexibility in determining what to do. You're still not gonna say anything until May Yeah, nothing official Sure So I didn't it's never been fun My staff always cringes when somebody says You must have a lot of fun in this position. Well, I don't believe it's fun nor do I believe it should be That's a incredible amount of responsibility. And if you're having too much fun with it Maybe you're not in the in the position for the right reasons Just like just like just like any just well, I have satisfaction. Yeah, I mean, there's there's things like today Look what we've done, you know Working together and trying to lower the cost of living for Vermonters and Vermont businesses is incredibly rewarding trying to help point this this state in a different direction and trying to to to change The demographics of the state and the economy and so forth and we make and we make improvements. It's incredibly rewarding Well, not when you are able to provide results Oh, I'm not I'm not sure I'm sure that if I decided not to run There'd be others who would step up. Who do you think you'd step up? I don't know Yeah, I'm sure Xander could And Stuart you're you know well-known Well Again, I think there'd be other people who would would step up and come to the rescue if that were where to happen But I'll be making a decision by the end of the legislative session I Well again, it's a four and a half billion dollar obligation that has been Talked about a lot by a number of different people but not a lot of interest in this building to do anything about it It continues to to get a little bit worse this year Payments about 199 million dollars about 8 million dollars more than last year So if that if we continue down this path, we're never going to get ahead So we have to to come to some agreement and I believe that the it's an important issue and if if the bonding bonding companies Continue to look at this is a as a problem a problematic in terms of our bond rating Then it costs it costs us money in doing so so I think it's appropriate that we talk about this But we need to do it collectively. We can't you know, I can't do anything about it individually, but but again if the legislature is interested or more than willing to have the conversation about where we go from here I Think it's easier just to push it off to the side and hope it gets better, but it's not getting any better You're director of racial equity Testified to house Naturally yesterday 250 Do you agree with and support and doors for testimony? I To be honest with you, I don't know what she testified to in that in that committee, so I don't I can't react Government state government I I do have concerns about that. I'm not sure that that isn't the case, but I believe that we're setting ourselves up for failure in some respects and Certain some certainly some liability I just think that it I think that as I've said before I think our view on the trajectory of where we can be In terms of reducing our carbon emissions My feeling is it's much different than theirs and I believe that we can we can both arrive at the same Same end in the end zone at the same time But but along the way, I think it's going to be different based on technology and changes and and consumer behavior and so forth So it's just a question of what what are those, you know arbitrary? Goals and are they attainable? I didn't say I said that We can we can agree on the beginning in the end In a certain period of time if we want to do that But how we get there and setting those arbitrary goals In between I think we're in much different different camps on that Well, I think just the charging stations of particular the EV incentives all the things we're doing with the weatherization We spend eleven point seven million dollars in a just alone And when you include the other efficiently efficiency Vermont and so forth, we're spending thirty eight million dollars a year In the weatherization, I think we could do more I've offered that if we have a surplus at the end of the year that we take at least a quarter of that and Put it towards climate change initiatives weatherization in particular maybe more electrification But I'm very bullish on on our transportation sector And and and we we've actually been doing it so and it's included in my budget again this year And I just haven't seen Where others have come up with initiatives that that compared to what we're doing All right. Thank you very much appreciate it