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The Senate Finance Committee’s Proposed FY 2016-2017 Budget

June 2, 2015 State Budget
Senate Chamber

Buoyed by a more optimistic outlook for revenue collections over the next two years, the version of the FY 2016-2017 budget approved by the Senate Finance Committee would mitigate some of the spending reductions adopted by the House of Representatives and would reverse others completely. Nevertheless, the Committee’s version of the budget lacks permanent changes in policy necessary to address the failure of the state’s revenue system to recover from the national recession. Consequently, the Committee’s budget proposal falls short of the plan offered by Governor Hassan, both in terms of investments critical to New Hampshire’s economic future and the amount of resources allocated to services designed to protect the most vulnerable Granite Staters.

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NHFPI Testimony Before the Senate Finance Committee Regarding the FY 2016-2017 Budget

May 5, 2015 State Budget
New Hampshire State House

On May 5, 2015, New Hampshire Fiscal Policy Institute Executive Director Jeff McLynch provided testimony regarding the FY 2016-2017 state budget at a public hearing held before the Senate Finance Committee. NHFPI testimony focused on two key areas: the restoration of funding for vital services and the impact of proposed business tax cuts, and the reauthorization of the New Hampshire Health Protection Program.

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The House Finance Committee’s Proposed FY 2016-2017 Budget

March 30, 2015 State Budget
New Hampshire State House

Constrained by state revenues that have failed to rebound since the national recession and a refusal to consider options to bolster them in a meaningful and sustainable fashion, the version of the fiscal year 2016-2017 budget approved by the House Finance Committee would provide significantly fewer resources for an array of public services than the budget recommended by Governor Hassan in February. Compared to the Governor’s plan, the budget the full House of Representatives will consider this week would reduce investments in physical infrastructure, higher education, and other areas critical to New Hampshire’s economic future and would imperil services designed to protect the most vulnerable residents of the Granite State.

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NHFPI’s 5th Annual Policy Conference

NHFPI Policy Conference

Common Cents Blog

Early Interest and Dividends Tax Payments Boost Surplus

5 Jan 2018

tree with coins

December revenues closed out the first half of State fiscal year 2018 with a sizable increase in the surplus, but the boost’s source suggests the result might be lower receipts in the next half of the year. Revenue sources for the General and Education Trust Funds collected $7.7 million (3.3 percent) more than planned in December, which was $14.4 million (6.4 percent) more than last December and resulted in a total unrestricted revenue surplus of $18.7 million (2.0 percent) above plan for the year. However, $7.3 million of the $7.7 million surplus from December came from a single source: the Interest and Dividends Tax.