The New Hampshire Senate
Republican Majority Office
New taxes and higher spending
(CONCORD) Senate Republicans today issued these statements following Governor Maggie Hassan’s Budget Address.
Senate President Chuck Morse (R-Salem): “Senate Republicans have been very clear that we will live within our means, and certainly not support the Governor’s Billion Dollar spending increase. We will not support increasing taxes as the Governor proposes on businesses, driver, and smokers.”
Senate Majority Leader Jeb Bradley (R-Wolfeboro): “Budgets are about priorities, and lowering our high business tax rates is the strongest step we can take to boost New Hampshire’s economy and attract new jobs to our state. Governor Hassan’s priorities are to increase state spending, rely on questionable revenues like Keno gambling, and impose an income tax on New Hampshire business owners.”
Senate Finance Committee Chair Jeanie Forrester (R-Meredith): “I have made protecting dedicated funds a priority in the next budget, and I want to thank Governor Hassan for agreeing to this approach. But I can’t agree with her call for higher taxes to pay for a billion dollar budget increase.”
Senate Ways and Means Committee Chair David Boutin (R-Hooksett): “The Governor is counting on state revenues that are more than $100 million a year higher than the bipartisan recommendations of the House Ways and Means Committee, in part because she wants to raises taxes and again rely on gambling revenue that the Legislature hasn’t approved. We need to make sure our revenues are realistic as we put the next budget together.”
BACKGROUND ON SENATE BUDGET BILLS
SB 5- Automatically transfers budget surpluses to NH Rainy Day Fund.
SB 13- Requires 2/3 vote of House and Senate in order to use dedicated fund for other purposes.
SB 1- Lowers Business Profits Tax from 8.5% to 7.9%.
SB 2- Lowers Business Enterprise Tax from 0.75% to 0.675%.