With a nearly $300 million surplus, a debate opened over how much should go to cutting state taxes, the New Hampshire Union Leader reported. House Majority Leader Jason Osborne laid down an early marker.
House Majority Leader Jason Osborne, R-Auburn, laid down an early marker with his call for another tax cut, this one to wipe off the books the Communication Services Tax that appears on all monthly telephone bills.
the New Hampshire Union Leader
Osborne argued the targeted tax fell hardest on those least able to afford it, according to the New Hampshire Union Leader.
Osborne said the tax disproportionally hits lower-income wage earners.
the New Hampshire Union Leader
He framed the push as keeping money with taxpayers, telling the New Hampshire Union Leader: We look forward to cutting taxes to ensure more of Granite Staters’ hard-earned money is staying in their pockets.
As the New Hampshire Union Leader reported, the Legislative Budget Assistant estimated the state would end the budget year with a $283 million surplus, though the figure could prove conservative given that taxes and fees were already $207 million over forecast through six months. The previous budget year had ended with a record $361 million surplus, of which the state spent about $270 million.
Other leaders pointed to competing uses for the money, the New Hampshire Union Leader reported. Gov. Chris Sununu said any surplus spending should be for “one-time” purposes rather than permanent programs, while Senate President Jeb Bradley noted the current budget had sent back $500 million in additional local aid and said he would like to continue that “as the surplus allows.”
Senate Ways and Means Chairman Timothy Lang likened the choices to “a little bit of everything like a Chinese menu,” the New Hampshire Union Leader reported.
“Neither side is going to get all the spending, tax cuts or fiscal discipline that they want. The trick is finding the sweet spot for how we can all achieve our goals.”
the New Hampshire Union Leader
Other budget writers urged caution, warning the run of large surpluses might not last. Senate Ways and Means Chairman Timothy Lang said the coming downturn would force hard choices about how to use the money.
“We’ve got to face the reality that the days of incredible surpluses we’ve been able to enjoy are coming to an end,” said state Rep. Timothy Lang, R-Sanbornton, the new chairman of the Senate Ways and Means Committee.
the New Hampshire Union Leader
The Legislative Budget Assistant’s $283 million estimate could prove conservative, the article noted, since taxes and fees were already $207 million over forecast through six months. The prior year had closed with a record $361 million surplus. Gov. Chris Sununu argued any surplus should fund one-time priorities rather than ongoing programs, while Senate leaders eyed returning more of the money to cities and towns as local aid. With economists warning of a possible recession, lawmakers framed the coming choices as a preview of the harder budget negotiations ahead.
Read the full story at the New Hampshire Union Leader.
