New Hampshire took in $434.1 million in April revenue, more than $84 million above projections, continuing a streak of beating fiscal expectations every month of 2021. NH Journal reports House Majority Leader Jason Osborne argued the surplus made the case for the business tax cuts in the House budget.
On Wednesday, the Department of Administrative Services announced it took in $434.1 million in revenue in April, more than $84 million than projected.
NH Journal
NH Journal notes the trend had held all year, with the April report following a strong March.
In fact, the state has exceeded its fiscal expectations every single month of 2021.
NH Journal
Osborne said the numbers showed an opportunity to leave more money with employers.
It is clear from this report that we are collecting taxes from hardworking and struggling New Hampshire small businesses that the state never intended to receive, and we may not need,
House Majority Leader Jason Osborne
He tied the surplus to the budget’s tax plan, according to NH Journal.
Our state budget is on track to lower taxes for businesses and all New Hampshire citizens, and we believe this will enhance our economic recovery,”
NH Journal
NH Journal summarizes the tax changes in the House budget then under consideration.
The Republican-controlled House passed its version of the state budget last month, which decreased a bevy of taxes including the meals and room tax, the interest and dividends tax, and business taxes.
NH Journal
The April figure extended a months-long run of revenue coming in ahead of projections, which Republicans pointed to as evidence the state was collecting more than it had intended from small businesses.
Osborne argued the surplus supported the case for the business tax cuts in the House budget, NH Journal reports, with outside groups joining the call for tax relief. The plan was awaiting Senate action, where changes were expected.
Americans for Prosperity’s state director echoed Osborne, saying the report showed room to provide relief as the state recovered from the pandemic.
Greg Moore of Americans for Prosperity agreed the report pointed to room for tax relief.
The March figures had already come in well ahead of expectations.
Republicans cast the consistent surpluses as a reason to return money to taxpayers.
The House budget with the tax cuts was awaiting action in the Senate.
Osborne said the state was collecting more than it had intended from small businesses.
The April total came in more than $84 million above projections.
Officials framed the numbers as evidence of an opportunity for relief, NH Journal reports.
The report came on the heels of a March figure that also beat expectations.
Republicans pointed to the run of surpluses as a case for tax relief.
Osborne argued the extra revenue belonged in the hands of business owners.
The House budget with the tax cuts awaited Senate action.
Officials said the numbers reflected a chance to aid the state’s recovery.
The surplus added momentum to the push for business tax cuts.
Officials said the report showed an opportunity for relief.
Republicans pointed to the consistent overperformance through the year.
The budget with the cuts awaited the Senate’s review.
Republicans framed the figures as proof their tax plan was the right call.
Read the full story at NH Journal.
