Improving NH's Economy
Your majority in the NH House is working hard on three priorities that improve NH’s economy:
1) Rebalancing funding for public education: Passed HB177 (immediate relief), HB 623 (freezes further BPT and BET tax breaks to ensure adequate general funds), HB 686 (defines a steady source of revenue for school funding by adding capital gains to the D&I tax rate - and identifying higher exemptions for over 65 which will lower D & I taxes) and HB709 (towns keep SWEP funds - replaces stabilization funding over time) in support of short, medium and long-term fixes for how we pay for public schools;
2) Providing property tax relief (HB623, HB686, HB712, HB497 (reinstating of the 15%state portion of NH REtirement System payments to towns) , HB641(allowing municipalities to collect up to a $2 per night rooms tax), and
3) Support for Working Families - HB712 Paid Family Leave.
Each of these bills is part of an innovative economic package that is designed to help attract younger people to New Hampshire - to address our aging demographics. Each bill now has to pass the hurdles of Finance Committee, Senate adoption and earning the Governor’s signature.
But I wanted you to know that we are working hard with a comprehensive plan to improve adequate school funding and to restore the state/municipal partnership that helps us avoid having large state obligations being down-shifted to our property taxes - the inevitable result of a 'cuts-only’ tax policy that ignores reality.