When a Democratic representative filed legislation to revive the interest and dividends income tax and raise business and meals taxes, New Hampshire Republicans rejected the idea, NH Journal reported. House Majority Leader Jason Osborne drew a contrast between the parties’ fiscal approaches.
When state Rep. Thomas Schamberg (D-Wilmot) filed legislation reviving the defunct income tax on income and dividends and raising business taxes, Granite State Republicans pounced.
NH Journal
Gov. Kelly Ayotte’s response was blunt, NH Journal reported.
The Democrats’ plan is tax hikes for all of New Hampshire,
NH Journal
That’s a hell no from me.
NH Journal
Osborne offered his own framing of the divide, cited here to Jason Osborne.
NH Dems: blow out spending in good times so they can jack up taxes in bad times. NH Republicans: cut wasteful and redundant spending in bad times so we can give people their money back in good times,
Jason Osborne
With Republican control of both chambers, the math made the proposal a long shot, NH Journal noted.
With a solid Republican majority in the House and a GOP supermajority in the Senate, this tax hike is highly unlikely to pass.
NH Journal
Schamberg’s bill reached well beyond the income tax, NH Journal reported.
Schamberg’s bill would reinstate the interest and dividends tax at 5 percent, raises the Business Profits Tax from 7.5 to 8.5 percent, increases the Business Enterprise Tax from 0.55 to 0.75 percent, and bumps up the Meals and Rooms tax on meals from 8.5 to 9 percent.
NH Journal
Read the full story at NH Journal.
