A budget that bolster's NH's economy

A Budget that Bolsters NH’s Economy

The New Hampshire legislature proved that the Rolling Stones knew a little something about life with this famous lyric ‘You can’t always get what you want … you get what you need.’ What NH needed was a budget that fulfilled our obligations to the state and its citizens without jeopardizing our financial future. Thanks to the long hours and hard work put in by our House Members, we were able to do just that for the citizens we were elected to serve. We implemented fiscally responsible measures to help bolster our economy and preserve the NH Advantage while minimizing tax impact.

New Hampshire Republicans have consistently supported lower tax rates and controlled government spending to ensure our economy stayed competitive. Our objective has always been to attract new businesses and families to our thriving state and strengthen our workforce. This has resulted in soaring business tax revenues and has given us the opportunity to fund our state’s most urgent needs without adding new taxes.

Our job as the legislature is to ensure the state budget controls spending and keeps taxes low in order to help our economy continue to grow. Last year, we delivered upon our promise to deliver tax relief and we did so in the form of STEP (Statewide Education Property Tax) reductions, and by cutting the Rooms and Meals Tax. This term, this budget preserves the New Hampshire Advantage - protecting the cuts to business and Rooms and Meals Taxes - and accelerates the repeal of the Interest and Dividends Tax, which is a tax on many seniors’ retirement income. We proved that we could implement strong, responsible fiscal measures without additional tax burdens on our constituents.

This approach has yielded one of the nation’s strongest economies. We are enjoying the lowest unemployment rate in our state’s history, we have the lowest poverty rate in the country, and we are the safest state in the nation. While there is much more work to do to reduce government regulations and red tape, with this budget, New Hampshire will continue to prosper because we are putting families, employees, and businesses first.