Press Releases

 

Entries in NH Budget (161)

Wednesday
Jul022014

Sens. Morse and Odell Statements on Fiscal Year 2014 Revenues 

Estimates prove nearly perfect, state agencies must control spending to match

 

Concord, NH - Senate President Chuck Morse and Senate Ways and Means Chairman Bob Odell released the following statements today regarding the Fiscal Year 2014 revenues.

 

Sen. Morse said:  “The strong returns from the Business Enterprise Tax are a sign that New Hampshire businesses are creating jobs, and the Meals and Rooms Tax over performing for the month suggest the state’s summer tourism season is off to a strong start.  Both represent very good indicators for our recovering economy and they have helped to ensure revenues for Fiscal Year 2014 have come in almost exactly as estimated in the budget.

 

“With revenues on plan, it is imperative that state agencies are meeting their spending and lapse figures to ensure the budget remains balanced and spending does not exceed the revenues we’ve collected.  To that end, I am requesting that Fiscal Committee Chairman Wallner schedule a spending update from the Governor’s office for our next meeting to give us the opportunity to better evaluate the state’s financial picture heading into the second year of the biennium.”

 

 

Sen. Odell said:  “Revenues for Fiscal Year 2014 were nearly identical to the conservative and responsible estimates developed by the Senate Ways and Means Committee and later adopted by the budget conferees. 

 

“The accuracy of our revenue estimates for the last year provides further support for the careful process used by the Senate Ways and Means Committee in crafting honest estimates.  By taking politics out of the equation and focusing on revenues before spending, I am proud that our committee has time and again been successful in laying the groundwork for sound and responsible state budgets.”

Saturday
Jun142014

Josiah Bartlett Center - Budget Problems and Mismanaged Tax Credits 

Weekly Update from the
Josiah Bartlett Center

Keeping you up to date on our latest research
on the issues impacting New Hampshire
 

The state may or may not face a budget crisis depending on who you believe. In the face of what she thinks is a crisis, the governor imposed the mildest of spending restrictions on every part of state government. Until we know the problem better, she decided to impose the time honored first step: a freeze on new hiring and out-of-state travel. It doesn’t save much money in the short term but it’s symbolic. Click here to keep reading


As reported in the Nashua Telegraph, a Legislative audit of the Division of Economic Development, within the Department of Resources and Economic Development found that in 2011 and 2012, $875,750 was improperly given out as tax credits, while an additional $121,000 worth of tax credits were not given to business that were eligible to receive them. This mismanagement accounts for nearly half of all the tax credits granted by the Division. The specific programs in question are the Economic Revitalization Zone (ERZ) tax credit and the Coös County Job Creation (CCJC) tax credit. Click here to keep reading

 

Wednesday
May212014

Josiah Bartlett Center - The Time for the Governor to Act is Now 

 

Weekly Update from the
Josiah Bartlett Center


Keeping you up to date on our latest research
on the issues impacting New Hampshire

 
 

I believe that the unique joys of another special legislative session loom on the horizon for the New Hampshire legislature. The purpose of the session will be the byzantine creature known as the Medicaid Enhancement Tax but we might just as easily call it the current budget crisis. Some legislators deny the existence of a crisis. They’re wrong.

The current crisis has come about as the courts have ruled a weird tax scheme of ours unconstitutional and placed almost $400 million the state is counting on for its budget in jeopardy. Solutions are swirling in Concord and some sort of Grand Alliance may yet come together but a solution must be reached by June 5 or a special session will be required. In the meantime, the governor’s delay in taking simple steps of preparation is inexplicable.....Click here to keep reading.
 


 

"I hoped for both the routine hiring freeze every governor does and the additional spending reductions most governors make. Today’s actions are the first small step to respond to the problem but she should also make real spending cuts by executive order as recent governors have done. In the last two decades, itemized spending reductions have accompanied freezes nine times. Nonetheless, I want to thank her for listening.” Click here to keep reading.

Thursday
May152014

NHDP - Chuck Morse Trying to Rewrite History of His Disastrous Budget Decisions 

Concord, NH-- In response to comments made by Senate President Chuck Morse to deflect responsibility for New Hampshire's revenue challenges, New Hampshire Democratic Party Chairman Ray Buckley released the following statement. 
 
"Senate President Morse is desperate to hide the fact that the state's current budget challenges are due to revenue changes made in the disastrous O'Brien Tea Party budget that he helped craft in 2011. Voters overwhelmingly rejected the O'Brien and Morse cuts. Their misguided, far-right budget made tax changes that likely caused April's revenue shortfalls, even while our economy continues to strengthen and unemployment continues to fall. And their budget cut health care funding and caused the MET lawsuit that threatens our economy and bond rating. 
 
"Instead of trying to rewrite history and use this moment as an excuse to push more devastating cuts, Senator Morse should work with Governor Hassan constructively to undo the damage caused by the last legislature, fix our revenue challenges, and protect the budget priorities that are critical to New Hampshire's families and economy."
 
Friday
May092014

Josiah Bartlett Center - The Governor's Inappropriate Appointment and the State's Fiscal Crisis 

Weekly Update from the
Josiah Bartlett Center

Keeping you up to date on our latest research
on the issues impacting New Hampshire

 
 

Governor Hassan made a mistake by nominating someone engaged in an ongoing lawsuit against the state to regulate the area over which he’s still suing. The mistake is not one of policy but one of propriety. The nomination can and should be withdrawn before tomorrow’s vote of the Executive Council.

So the governor has nominated someone to the State Board of Education who is currently suing the state over education policy. He didn’t once upon a time sue the state. He hasn’t expressed concerns. He is currently engaged in lawsuit – a lawsuit named after him – and is going to oversee that area – the area of his ONGOING lawsuit. Does the governor not see that this is a trifle odd? 
Click here to keep reading

______________________________________________

The $400 million hole in the state’s budget I described two weeks ago has caused the state to be placed on a negative fiscal watch. Some would ignore or minimize the crisis but the problem is large, structural, and will require more than a small tweak to fix.

This past week, the national bond rating agency Standard and Poor’s lowered the state’s outlook from ‘stable’ to ‘negative.’ Very quickly, the other major national group, Moody’s, followed suit and advised investors and anyone watching the state’s finances that New Hampshire’s outlook was negative. The bond rating was not lowered but both major fiscal watchdogs are advising the world that New Hampshire’s outlook is negative. I think it’s fair to say that this is not putting our best foot forward as we look to attract jobs and investment to the state. Click here to keep reading