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April Revenue Collections Welcome News for FY 2016-2017 Budget Deliberations

May 6, 2015 State Tax Policy
NH state quarters

In putting together New Hampshire’s budget every two years, policymakers pass a number of important milestones, such as the submission of the Governor’s initial spending plan in February and public hearings in both the House and the Senate in the spring. Among the most critical of these milestones is the announcement of revenue collections for the month of April. The April numbers are important as they provide greater insight into likely revenue totals for the current fiscal year and, by extension, what the state might reasonably expect to take in during the coming biennium.

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Supermajority Requirement to Increase Taxes at Odds With Sound Fiscal Policy

January 29, 2015 State Tax Policy

The New Hampshire House of Representatives will soon consider a measure, CACR 1, to amend the state’s constitution to require that an increase in any existing tax or license fee or the creation of a new tax or license fee be approved by three-fifths of both chambers of the legislature. In each of the past two legislatures, the House rejected attempts to amend New Hampshire’s constitution in this way. Those decisions were well founded, for such constraints not only are at odds with sound fiscal policy, but also erode New Hampshire’s democratic institutions.

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NHFPI Testimony Regarding Senate Bills to Reduce NH Business Taxes

January 20, 2015 State Tax Policy
NH quarters

On Tuesday, January 20, NHFPI Executive Director Jeff McLynch testified before the New Hampshire Senate Ways and Means Committee to express concerns about both SB 1, reducing the business profits tax (BPT) rate, and SB 2, reducing the business enterprise tax (BET) rate. SB 1, taken in combination with its companion measure, SB 2, would ultimately and permanently reduce state revenue by $78 million on a biennial basis. Given the fiscal challenges now before New Hampshire, tax cuts of this magnitude would endanger the public services on which residents and business rely and curtail the sorts of investments critical to a brighter economic future for all.

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New Data Show Food Insecurity Levels Declining Prior to the COVID-19 Crisis

10 Sep 2020

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According to data released on September 9 by the United States Department of Agriculture, food insecurity levels in New Hampshire continued to decline during 2019, prior to the onset of the ongoing COVID-19 crisis. The report outlines the trends of reduced food insecurity in the nation and in New Hampshire, declining from the higher levels resulting from the Great Recession of 2007 to 2009. The overall improvements to the state economy through 2019, along with the effectiveness of key nutritional aid programs, did contribute to lower levels of food insecurity, although the benefits of the economic recovery did not reach all Granite Staters in an equal or timely manner. Although food insecurity levels declined through the years preceding 2020, the current crisis facing Granite Staters is not reflected in these 2019 data. The recent economic pressures on many individuals and families with lower incomes in New Hampshire have been severe, and current levels of food insecurity are very likely to be substantially higher.