Joint Republican Statement on Governor Lynch’s New Tax Proposal
Concord, NH - Today, House Minority Leader Sherm Packard (R- Londonderry) and Senate Minority Leader Peter Bragdon (R-Milford) released the following statement on Governor Lynch's proposal to tax mortgage refinances.
"Taxing families and businesses looking to lower their monthly mortgage payments is a slap in the face to those trying to make it through these difficult economic times. Instead of taxing people who are trying to hold the linewith their own expenses, Governor Lynch and the big spenders in the House and Senate should learn from these families and businesses by holding the line on government spending,” said Senate Minority Leader Peter Bragdon.
He continued, "While New Hampshire citizens and businesses are cutting back their expenses, the Concord big spenders are proposing a 7% increase in spending. This 'Do as I say, not as I do' attitude has got to stop."
“Governor Lynch has proposed a new and devastating tax proposal for New Hampshire,” said House Republican Leader Sherm Packard (Londonderry). “At a time when most budgets around the country have seen a reduction in spending, this governor and his spending-into-oblivion party are looking under every rock and behind every door to raise money, and now they want to tax people who need the money most; our homeowners who have worked and saved hard. I once again call on Governor Lynch to examine specific reductions offered by Republicans in the proposed budget to get our financial house back in order.”
The current general fund budget for FY 08/09, as adjusted by actions of the governor and the legislature, is $3.107 billion. The proposed general fund budget for FY 10/11, including the Liquor Commission (which was in the 08/09 budget, but was moved off budget for 10/11) is $3.327 billion, a 7.1% increase.