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Entries in NH Sen Bradley (54)

Thursday
Dec112014

NH Sen Bradley hails Supreme Court decision upholding NH Retirement System reforms 

The New Hampshire Senate

Republican Majority Office

Bradley, Carson hail Supreme Court decision upholding NH Retirement System reforms

 

Concord, NH – Senate Majority Leader Jeb Bradley (R-Wolfeboro) today hailed the New Hampshire Supreme Court decision in PFFNH v NH,  upholding key legislative reforms to the New Hampshire Retirement System.

 

“I’m encouraged that the Supreme Court has upheld the right and duty of the Legislature to amend and improve the New Hampshire Retirement System. Unless we can address the $5 billion unfunded liability in our state pension system, both taxpayers and workers would be left with a huge financial burden. This decision affirms the Legislature’s ability to make the changes we’ll need to preserve the New Hampshire Retirement System, protect taxpayers, and maintain employee jobs.”

 

Sen. Bradley was prime sponsor of SB 3 in 2011, which was incorporated into the FY 12-13 budget. Senate Executive Departments and Administration Committee Chair Sharon Carson (R-Londonderry) thanked Bradley for his leadership on pension reform, and said the next Legislature would continue the effort to shore up the New Hampshire Retirement System.

 

“In 2011, Senator Bradley led the way to make necessary and fair changes to begin reforming the New Hampshire Retirement System. We preserved a generous pension benefit for public sector workers, and in return asked for slightly higher contributions, asked some younger beneficiaries to work 25 years instead of 20 years, and addressed long-ignored abuses to the system. This was a first step in ensuring that public sector workers across New Hampshire have a viable pension system for years to come.”

 

Friday
Nov142014

NH Sen. Bradley Files Legislation to Further Expand Research and Development Tax Credit

The New Hampshire Senate

Republican Majority Office

Concord, NH- Senate Majority Leader Jeb Bradley (R-Wolfeboro) announced today he has filed legislation to further expand the Research and Development Tax Credit. The Legislature recently doubled the tax credit to $2 million but there is significantly more demand than that amount.  Bradley’s legislation will expand the potential amount allowed to $7 million.  

 

 “Expanding the Research and Development Tax Credit is one of the most proactive and cost effective measures that New Hampshire policy makers can undertake to retain and grow our critically important advanced manufacturing high tech economy and the good jobs that depend upon it. Encouraging job growth must be a top priority for the 2015 legislative session,” he said.  

 

 Bradley said he expects the legislation will receive broad bipartisan support as well as strong support from business leaders as did similar legislation that previously expanded this tax credit.

 

Thursday
Nov132014

NH Senate Republicans - Bradley opposes "Paddle Tax" 

The New Hampshire Senate

Republican Majority Office

 

The “Paddle Tax” is Not a Solution to NH’s Budget Deficit

 

Senate Majority Leader Jeb Bradley (R-Wolfeboro) issued the following statement concerning a new “Paddle Tax” to fund the NH Department of Fish & Game: 

“During the long gubernatorial campaign this year, Governor Hassan consistently talked about the bi-partisan budget that was passed that included no taxes and fees. 

“Less than a week after ballots have been cast, we are now hearing about a proposal to tax canoes, kayaks and other non-motorized watercraft. 

“The "paddle tax" is not a solution for dealing with budget issues and should not even be considered. It will hurt tourism, be largely unenforceable, and raise little revenue. 

“The LLC tax and the Camping Tax were bad ideas that had to be repealed. The Paddle Tax should not even be proposed.”

Wednesday
Aug202014

NH Sen Bradley to Hassan: Which business taxes would you like to increase?

The New Hampshire Senate

Republican Majority Office

Governor continues to blame revenues while hiding spending

 

Concord, NH – Senate Majority Leader Jeb Bradley (R-Wolfeboro) today called on Governor Maggie Hassan to specify which business taxes she wants to increase. Hassan has been warning of a potential budget deficit since May, but has refused to update the Legislature on state spending. FY14 revenues came in above the conservative forecasts insisted on by Senate Republicans, yet Hassan continues to claim that recent business tax reforms “are having a negative impact on the state's budget.”

 

“If Governor Hassan thinks New Hampshire’s business taxes are too low, she should tell us which ones she wants to increase,” Bradley said. “Does she want to start taxing trusts again? That would raise about $5 million a year. Does she want to reduce the Research and Development Tax Credit? She might want to roll back the Net Operating Loss Carry Forward provisions signed by Governor Lynch. the Or maybe she wants to lower the threshold for the Business Enterprise Tax so that New Hampshire’s smallest businesses will pay more.”

 

“These important business tax reforms had broad, bipartisan support, and were factored into the revenue estimates that proved so accurate for FY14,” Bradley continued. “If Governor Hassan wants to roll back these tax reforms, she should tell us which taxes she wants to increase. In the meantime, I would repeat our request to update the public on how much state departments spent in FY14, which ended 50 days ago.”

 

Background

 

In 2011, the Legislature increased the filing threshold for the Business Enterprise Tax from $150,000 to $200,000, providing tax relief for New Hampshire’s smallest businesses.

 

In 2012, the Legislature voted 23-0 in the Senate and 312-18 in the House to override Governor Lynch’s veto of SB 326, exempting trusts from the Interest and Dividends Tax.

 

In 2012, the Legislature overwhelmingly approved HB 242, increasing the Net Operating Loss Carry Forward provision of the Business Profits Tax to $10,000,000.

 

In 2013, the Legislature passed SB 1, doubling the Research and Development Tax Credit and making it permanent. At the time, Hassan called it “a critical component of our innovation agenda.”

 

In June of 2013, Hassan praised the “bipartisan, fiscally responsible balanced budget agreement” that included all of the tax provisions she’s now criticizing.

Sunday
Aug102014

NH Sen Bradley announces Spending Watch ‘14 

The New Hampshire Senate

Republican Majority Office

Governor Hassan needs to open the books

 

Concord, NH – Senate Majority Leader Jeb Bradley (R-Wolfeboro) today announced the creation of Spending Watch ’14. Bradley will track the number of days since the end of Fiscal Year 2014 until Governor Hassan reports on the amount of money that state agencies actually spent.

 

“Governor Hassan wants to start writing the next budget without even knowing how much money we spent last year. That is not how to protect hard working New Hampshire taxpayers. We know that New Hampshire revenues were on target, but we still don’t know which state departments met or exceeded their spending limits.

 

“Senate Republicans will continue to insist on transparency in state spending. If overspending has created a budget deficit, we need to know how big the problem really is if we’re going to address it.”

 

Spending Watch ‘14

 

86 days since Governor called for a spending freeze

61 days since the Nashua Telegraph reported state departments would exceed their FY14 budgets

39 days since the end of Fiscal Year 2014

32 days since Sen. Forrester requested an update on state spending