Democrats Massive Tax Hike Plan Would Raise New Hampshire Business Tax Rates Back to Highest in New England


January 23, 2019

Joe Sweeney

Concord, NH - NHGOP Chairman Wayne MacDonald released the follow statement regarding House Bill 623, which would raise the state’s Business Profits Tax (BPT) from its current 7.7% to 8.5%, and back to being the highest business tax rate in New England. The bill was heard in the House Ways & Means Committee today.

“Since Republicans began reducing business taxes in 2015, our economy has seen explosive growth and state revenues have soared. That’s because responsible management of the budget and a business-friendly environment have made us the fastest growing economy in the Northeast. However, Democrats want to strangle the goose that laid the golden egg with a massive tax hike on the same businesses that are growing our economy and allow huge numbers of Granite Staters to find work.”

“This huge tax hike would move New Hampshire back to having the dubious distinction of having the highest business tax rates in New England and undercut our economic growth. Instead of trying to find ways to punish our businesses, Democrats need to follow the success of Governor Sununu that has delivered a booming economy for New Hampshire.”