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CONCORD â More than 220 people signed up to speak during a virtual Senate public hearing about the proposed next two-year state budget, House Bill 1 and House Bill 2, with callers urging full funding for services for people with developmental disabilities, Medicaid adult dental benefits, school funding and more. Many also called in to ask the Senate to strip a section in House Bill related to a ban on teaching âdivisive concepts,â related to racism and sexism and calling its inclusion a dangerous form of censorship. Gov. Chris Sununuâs third budget proposal, outlined on Feb. 11, would mean tax cuts, moving the Business Enterprise Tax from .6 down to .55 percent and the rooms and meals tax down from 9 to 8.5 percent, increasing the general fund by 7 percent but not increasing taxes. ....
March 4, 2021 Janelle Cammenga A year ago, it seemed possible that New Hampshire was headed toward a triggered tax increase. Instead, lawmakers may trim business tax rates and begin the phaseout of the state’s tax on interest and dividend income, which would take away the asterisk and make New Hampshire the ninth state to forgo an individual income tax altogether. Had certain revenues dropped 6 percent or more below projections, which seemed plausible early in the pandemic, recent triggered reductions to the rates of New Hampshire’s business taxes would have been reversed. Now some lawmakers are looking to get rid of the tax trigger altogether and ramp down tax rates on businesses in the next two years. ....
Sununu Pitches Budget Plan To Lawmakers, Promises 'Spectrum' Of Tax Cuts nhpr.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nhpr.org Daily Mail and Mail on Sunday newspapers.
Governor s office Gov. Chris Sununu presented his two-year spending plan Thursday, a $13.8 billion package that proposes sweeping tax reductions and a series of what the governor called generational investments in the state. The budget plan, which would increase state general fund spending by 7% over the current budget, includes a handful of new proposals, like the creation of a state Department of Energy and the merger of New Hampshire’s public higher education systems, as well as cuts to several of the state’s major revenue sources. Sununu, a Republican overwhelmingly re-elected to a third term in November, described the overall proposal as a balanced approach to meeting the state’s financial needs in a time of economic uncertainty. ....