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Declining Business Tax and Other Revenues Suggest Caution for State Budget

August 15, 2019 Common Cents
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As policymakers continue to consider State Budget options and choices during the ongoing continuing resolution, understanding State revenue trends remains critical to determining the State’s ability to pay for needed services and the policy choices that affect available resources. With State Fiscal Year 2019 completed and SFY 2020 underway, recent months of revenue collections have provided some additional insight into whether the State might expect more revenue in future years. Questions remain about the future of business tax receipts in particular, which have been very difficult to predict due to recent abnormal behavior following the federal tax overhaul; however, recent data suggest anticipated declines in receipts may limit revenue going forward.

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Continued Rise of NH’s Rental Costs Increases Financial Burdens on Residents

August 9, 2019 Common Cents
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The New Hampshire Housing Finance Authority recently released the findings of their 2019 Residential Rental Cost Survey for the state. Conducted annually in order to understand the condition of the unsubsidized rental market in the state, the latest report identifies several important ongoing trends. The overall increase of New Hampshire’s median rent and utility costs over the past decade continues into 2019, with total rental costs for residential units trending upward to the 2019 median level of $1,347 for a two-bedroom apartment. This new data suggests this rise in costs is occurring in large and small cities and towns, counties, and the state overall. In the past five years, rental costs for two-bedroom apartments in the state have increased by nearly 22 percent on average.

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Federal Court Halts New Hampshire Medicaid Work Requirements

July 30, 2019 Common Cents
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In a July 29 ruling, a federal judge halted the implementation of New Hampshire’s work and community engagement requirements for expanded Medicaid enrollees. New Hampshire’s expanded Medicaid program provides health coverage to nearly 50,000 residents with low incomes. Work requirement implementation had already been delayed by the State due to the potential for nearly 17,000 people to lose health coverage after the first month of reporting under the new requirements.

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Declining Business Tax and Other Revenues Suggest Caution for State Budget

15 Aug 2019

tree with coins

As policymakers continue to consider State Budget options and choices during the ongoing continuing resolution, understanding State revenue trends remains critical to determining the State’s ability to pay for needed services and the policy choices that affect available resources. With State Fiscal Year 2019 completed and SFY 2020 underway, recent months of revenue collections have provided some additional insight into whether the State might expect more revenue in future years. Questions remain about the future of business tax receipts in particular, which have been very difficult to predict due to recent abnormal behavior following the federal tax overhaul; however, recent data suggest anticipated declines in receipts may limit revenue going forward.