Senate Republicans Support Irresponsible Tax Breaks for Out of State Corporations
Contact Name: Marina Altschiller
Phone: (603) 271-3207
CONCORD - Today, Republican members of the Senate Ways and Means Committee voted to pass SB 13 in a vote of 3-2. Section I of SB 13 makes an irresponsible change to the business profits tax and business enterprise tax that will cost New Hampshire $79 million in the next budget.
After the vote, Senator Cindy Rosenwald (D-Nashua) and Senator Lou D'Allesandro (D-Manchester) issued the following statement:
“Section I of SB 13 is a fiscally irresponsible measure that will not provide relief to New Hampshire’s businesses. Now is not the time to offer tax breaks to out of state corporations that will cost the state $79 million during a time of economic instability with no real proposal for making up the loss.”