New Hampshire Senate
Boutin questions Governor’s shifting story for reckless budget veto
Concord, NH - Senate Ways and Means Committee Chairman David Boutin (R-Hooksett) today questioned Governor Maggie Hassan’s recent statements in support of expanding the Research and Development Tax Credit, since Hassan vetoed the balanced budget passed by the Legislature that contained this very item, because it included tax cuts.
“This week, we learned that requests for the Research and Development Tax Credit far exceeded the $2 million annually that is currently available. This is why the Legislature expanded this popular program in the budget to $7 million a year, starting in 2017. The Governor vetoed it, claiming that future tax cuts would ‘blow a hole in the budget’. If she supports tax cuts, why did she veto the budget?”
“Expanding the Research and Development Tax Credit would cost $5 million a year, or $10 million in each budget cycle. For months, she’s opposed any tax cuts unless they were paid for with even larger tax increases. But suddenly, she’s all for it. If we want to expand the R&D Tax Credit, we need to override the Governor’s veto on September 16th,” Boutin added.