NH House Leaders Comments on January Revenues Exceeding Forecast by Over $14 Million

CONCORD – House Speaker William O’Brien (R-Mont Vernon) and House Majority Leader D.J. Bettencourt (R-Salem) today offered the following comments in response to news that state revenues for the month of January exceeded expectations by $14.3 million.  The revenues were led by a surge in business taxes, which outperformed expectations by 77.4% and tobacco tax revenues, which surpassed the plan by $900,000.

House Speaker William O’Brien

“The fact that January revenues were ahead by over $14 million is certainly welcome news that our economy is recovering.  The most encouraging aspect of this report is that business tax revenues, a signal of economic strength and confidence by the employers of the state, had a very robust month.  As we continue to take steps to make New Hampshire business-friendly, we will look closely at these revenues to see how they respond to our efforts to focus on growing the private sector, and not government.  Finally, it’s good to see that people are responding to the lower price of cigarettes and the marketing efforts of our border retailers in attracting out-of-state customers to buy tobacco products here.”

House Majority Leader D.J. Bettencourt

“While the Democrats fixate on raising tobacco taxes, they might want to spend some time noticing that the public is realizing that New Hampshire is now the place to come and do business.  While the tobacco tax was up for the month, it’s also pretty instructive that gas tax, rooms and meals tax and lottery sales were also above plan.  That shows that people visiting the state aren’t just buying cigarettes, but also filling their cars and buying other goods here.  As someone who represents a border community, I know that this is helping our small businesses and helping our economy.”