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New Census Bureau Data Show NH Incomes, Poverty Rates Holding Steady

September 26, 2019 Common Cents
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Median household incomes and key poverty rates remained essentially the same in New Hampshire from data collected in 2017 to 2018 data, suggesting economic growth in the state did not boost the overall purchasing power of people with low or middle incomes relative to inflation. New data published today by the U.S. Census Bureau show poverty rates and household incomes held steady in the state, while poverty declined slightly and median household income edged upward at the national level.

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State Budget Agreement Includes Education Funding Revisions, Medicaid Reimbursement Rate Increases, and Contingent Business Tax Rates

September 25, 2019 Common Cents
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The newly-proposed State Budget agreement to be considered by the Legislature today would boost funding for local public education, with a substantial increase during the budget biennium and a smaller increase continued over time, and includes upward adjustments to Medicaid reimbursement rates and one-time aid to cities and towns. The agreement, finalized by budget negotiators on September 24, would fund these initiatives in part by deploying current surplus revenues, including revenues from reduced spending and increased lapse during the continuing resolution. Funding would also stem in part from freezing business tax rates at 2019 levels. However, future business tax rates would be contingent on a revenue-based trigger and could move up or down for Tax Year 2021 depending on the strength of receipts during the first year of the budget biennium.

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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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New Hampshire Trails in Higher Education Funding

20 Nov 2019

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It has been over a decade since the end of the last recession. During this time, investments and funding for public higher education across the nation have seen reductions overall. States reduced expenditures in the aftermath of the recession, including decreased spending to support public higher education. Recent analyses from the Center on Budget and Policy Priorities and the Pew Charitable Trusts have compared states’ investments in public higher education over time. When compared to pre-recession levels the amount of money allocated to public higher education nationwide has decreased. Students who attend public colleges and universities in their home states face the additional cost burdens of increasing tuition and fees that may stem from these funding cuts. In New Hampshire, Granite Staters face the second highest average in-state tuition at public four-year institutions in the nation.