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State business tax rate reductions decreased revenue for public services
Since 2015, state revenues have increased substantially. These higher revenues have provided opportunities for investments in health, education, and transportation while generating surpluses over planned revenue targets in state budgets and giving policymakers more fiscal space to enact tax rate reductions. State lawmakers have successively reduced the business profits tax (BPT) and the business enterprise […]
Medicaid expansion has provided health care coverage to NH workers, supported the economy
Medicaid expansion has improved access to health care for New Hampshire’s workers and residents with low incomes while supporting the overall economy, based on NHFPI research published earlier this year. Over 219,000 Granite Staters have received health coverage through Medicaid expansion at some point. In Medicaid expansion’s first five years in New Hampshire, the uninsured […]
Repeal of Interest and Dividends Tax disproportionately benefits wealthy NH households
In 2021, the Legislature enacted a phaseout plan for the Interest and Dividends Tax, which is collected from a percentage of income generated by wealth, that would eliminate the tax by 2027. This change will result in less state revenue for public services. However, in the state budget currently being constructed by the House Finance […]