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Senate Ways and Means Committee Increases Revenue Estimates

May 22, 2017 Common Cents
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In an unusual move, the Senate Ways and Means Committee opted to revisit the revenue estimates for the General and Education Trust Funds they had decided and voted upon individually on May 17. The Committee concurred with the House Ways and Means Committee revenue projections for the Fish and Game Fund, and adopted the projections from the Governor’s proposed budget for the Highway Fund. The Committee then reopened the General and Education Trust Fund revenue estimates, and after a series of recesses, decided to increase projected revenues for the Business Profits and Business Enterprise Taxes, the Interest and Dividends Tax, and the Real Estate Transfer Tax for the upcoming State Budget biennium.

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Senate Revenue Estimates 14 Million Below House Numbers

May 17, 2017 Common Cents
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The Senate Ways and Means Committee met on May 17 to determine revenue estimates for the State’s General and Education Trust Funds, and decided that revenues would likely come in at $4,898.1 million for the State fiscal years (SFY) 2018-2019 biennium. This estimate is $14.2 million below the figure the House Ways and Means Committee produced to inform the House Finance Committee budget process. If these numbers are finalized, the Senate Finance Committee will need to use these lower figures, or add other revenue sources, to build its version of the State Budget.

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Revenues As Strong As Last Year, But Little Growth Overall

May 2, 2017 Common Cents
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New Hampshire’s April revenue numbers came in strong. Many annual taxes from the 2016 calendar year must be filed in April, so it is an important month for evaluating tax collections. March also has filing deadlines, and both are typically strong months for revenue, which informs the budget planning process and helps legislators understand the amount of year-end revenue available to allocate to other priorities. Relative to the plan the State crafts to anticipate monthly revenue, April revenues were $40.2 million above plan. While this increase above plan is certainly good news for State revenues, the increase is not solely due to a growing economy.

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Food Insecurity in New Hampshire Remains Higher Than Pre-Recession Levels

21 Sep 2017

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A report released earlier this month by the U.S. Department of Agriculture’s Economic Research Service shows food insecurity nationally remained at roughly the same level in 2016, 12.3 percent of all households, as in 2015. Food insecurity is higher both nationally and in New Hampshire in the last three years than ten years ago, before the Great Recession. Although progress has been made nationally relative to the next most recent three-year period, New Hampshire has seen no statistically significant change in food insecurity between the last two three-year periods measured, and food insecurity remains higher above pre-Recession levels than the nation as a whole.