NH House Leaders Praise Third Business Tax Cut of Legislative Session

CONCORD – House Speaker William O’Brien (R-Mont Vernon), Majority Leader D.J. Bettencourt (R-Salem) and House Business Coalition Chair Laurie Sanborn (R-Henniker) today offered the following statements in response to House Bill 187 becoming law after the Governor took no action on the bill after five days.  The bill extends the carry forward period for business enterprise tax credits against a company’s business profits tax from five years to ten.  

 The bill, which passed the Senate unanimously and by a vote of 265-94 in the House, is the third business tax cut by Republicans of this session.  It joins legislation to reform reasonable compensation liability for small business (SB 125) and to increase the business loss carry forward limit (HB 242 initially, but included in HB 2) as bills that have become law without Governor Lynch’s signature.

 House Speaker William O’Brien

 “These three tax cuts for employers send a clear message that New Hampshire is once again open for business.  We are absolutely committed to growing our economy and creating jobs, and the way to do that is to make our state more competitive and more attractive to business owners that they should move or grow here.  These tax cuts, coupled with the reductions on the gambling winnings and tobacco taxes for our retailers and the elimination of the car registration tax, show that we are getting the Granite State back to our small government, low tax roots.  However, it’s unfortunate that Governor Lynch, who should be leading efforts to bring jobs to the state, couldn’t find a way to support these pro-job, pro-growth bills.”

 Majority Leader D.J. Bettencourt

 “Under Governor Lynch’s watch, New Hampshire fell to dead last nationally for having the highest business tax rate in the nation.  So, it comes as no surprise that  he refused to sign these common sense tax cuts into law.  Republicans are now trying to clean up his mess by giving companies the tax relief necessary to grow and create jobs.  But despite  the  huge "Lynch" tax increases, we still had to bail the governor out and  clean up millions in red ink from his last budget.  Thankfully, the voters realized the importance of having a supermajority of Republicans who want to take the burden off our employers in order to combat our anti-jobs, anti-growth governor.”

 House Business Coalition Chair Laurie Sanborn

 “It’s all about creating jobs and improving the economy.  The 95 members of the New Hampshire House Business Coalition know that you can only be pro-jobs if you are pro-business.  These pro-business bills will help New Hampshire companies and small business owners be successful, and make our state more competitive in attracting and retaining the best employers.”

Comments

[Troll]

Hmm. Dead last in business tax rate and yet only 2 states have a lower unemployment rate by percentage. It certainly doesn't seem like businesses are abandoning the state. Maybe the national republican agenda is more important to our state leaders than the well being of New Hampshire. That's the only way these comments make any sense.

[Keith]

Every tax placed on a business is ultimately paid for by the consumer. It gets passed on to the little people every time because businesses can't exist without making a profit. If their profits get squeezed by higher taxes or regulatory burdens, they must pass the increased costs onto the consumer through higher prices or lower quality/quantity. That's economics 101.

The false morality of stealing from one's neighbor in order to do "good" is imploding all across the planet. First Communism fell, now Socialism is collapsing, next up Chrony Capitalism, until all that's left are people exchanging goods and services voluntarily in the market place. Welcome to New Hampshire.

[C. dog]

Right on, brotha Keith –
But don't forget our lil' bastard friend, Fascism – that fiendish combination of Big Gov doling out goodies to Big Biz – you know, that form of govy that Roosevelt II loved so much before it went out of fashion with that funny little fellow with the equally funny mustachio, and even then, it was only a nominal change.

So why wait? Let's go "black market" NOW in our exchange of goods and services; remember, black is truly beau-ti-ful!
– C. dog flips for tax-free burgers on July 4th