NH Senate releases FY 2016-17 revenue estimates

Concord, NH – The Senate Ways and Means Committee approved  their budget revenue estimates for FY 2016 and FY 2017 at $2,287,600,000 and $2,332,900,000 in general funds, respectively, during a hearing today.

“The Senate Ways and Means committee considered a number of factors while preparing the revenue estimates, which are essential guides for the rest of the Finance Committee’s work on the Senate budget proposal.  The revenues presented today represent conservative estimates and provide us with a strong, yet realistic, foundation for building the next budget,” said Ways and Means Committee Chair David Boutin (R-Hooksett).

“The Legislature has a long history of producing accurate revenue estimates and we expect today’s estimates to continue in the same way,” Boutin added.

“The Senate has the benefit of three and four months of additional monthly revenue numbers from which our final estimate is produced, including Rooms and Meals taxes, Business taxes, and Real Estate Transfer taxes, to name a few, which have been steadily increasing month to month.”

“The revenue estimates we reported today were comparable to the House estimates, and while these estimates do reflect an uptick in the revenue the state is receiving, they are below the Governor’s projected estimates that were recently updated,” continued Boutin.