Home » News » Currently Reading:

NHFPI Statement on Passage of the State Budget

June 22, 2017 News

FOR IMMEDIATE RELEASE
June 22, 2017

 

NHFPI Statement on Passage of the State Budget

 

Concord, NH – The New Hampshire Legislature convened on Thursday, June 22 to vote on the Committee of Conference version of the State Budget for the next biennium, which begins on July 1, 2017. The budget, which appropriates $11.85 billion for State Fiscal Years 2018 and 2019, next heads to the Governor before becoming law.

The New Hampshire Fiscal Policy Institute issued the following statement:

“The state budget passed today by the New Hampshire House and Senate makes important strides in funding for critical health needs in the state, increasing capacity in the mental health system, boosting funding for child protection, and providing compensation rate increases for direct health service providers,” said John Shea, executive director of the New Hampshire Fiscal Policy Institute.

“Importantly, the budget increases the thresholds for Temporary Assistance for Needy Families benefits to 60 percent of federal poverty guidelines and provides annual adjustments to ensure benefits will keep up with inflation. This change will make a real difference for families who struggle to afford basic needs.”

“Policymakers also increased the state’s Rainy Day Fund to $100 million, which will provide a solid foundation in the event of an economic downturn or fiscal crisis,” noted Shea.

“At the same time, the tax changes in this budget reduced available revenue by $23.7 million and left policymakers with fewer resources to address needs that would have provided benefits to all New Hampshire residents and businesses, such as increasing funding for schools, roads, and other public infrastructure, and making higher education and workforce training more accessible.”

“The tax rate reductions passed in this budget increase the risk of reduced revenue for future years, and may limit the state’s ability to address future needs,” added Shea. “While this budget makes some important strides, the state may continue to fall behind in areas that are essential to ensuring a strong economy.”

The New Hampshire Fiscal Policy Institute published several analyses of the State Budget proposals and state revenue sources, including a review of the Business Enterprise Tax changes that phase out the BET contribution to the General Fund. Visit NHFPI’s NH State Budget web page for links to analyses of budget proposals from the Governor, Senate, and Committee of Conference; a discussion of the business tax changes; and an overview of state revenue sources. (The NH State Budget web page is located under the Resources tab at www.nhfpi.org.)

The New Hampshire Fiscal Policy Institute is an independent non-profit organization dedicated to exploring, developing, and promoting public policies that foster economic opportunity and prosperity for all New Hampshire residents, with an emphasis on low- and moderate-income families and individuals. Learn more at www.nhfpi.org.

#

 

CONTACT:
AnnMarie French
603-856-8337 ext. 2

Connect with NHFPI

Common Cents Blog

New Hampshire Expands Access to Safety Net Programs and Supports During the COVID-19 Crisis

3 Apr 2020

tree with coins

Programs such as Medicaid, Temporary Assistance for Needy Families, and the Supplemental Nutrition Assistance Program provide means-tested benefits that help support the basic needs of individuals and families with low incomes. During these times of profound economic instability, assistance to families and individuals living at or near the poverty line, along with those who have experienced sudden large drops in income, is indispensable. Strengthening the safety net, the New Hampshire Department of Health and Human Services announced temporary changes, beginning April 1, 2020, to certain administrative aspects of these programs at the State level. In addition to other emergency federal and state-level changes to unemployment benefits, the changes to these safety net programs expand access to targeted assistance for individuals and families during the COVID-19 crisis.

NHFPI Seventh Annual Conference

NHFPI Annual Conference