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Concord, New Hampshire—This morning, New Hampshire Governor Chris Sununu signed HB 1221, lowering New Hampshire’s business profits tax from 7.6 percent to 7.5 percent.
Americans for Prosperity New Hampshire (AFP-NH) praised the governor for signing the bill. State Director Greg Moore gave the following statement while attending the signing ceremony:
“Employer tax relief is working for New Hampshire’s economy. While nationally there are troubling signs of economic weakness, the data here in the Granite State continues to be strong, thanks to four earlier rounds of business tax reduction. With a recession looming, we must take steps to position our state more competitively and this critical bill does just that. We’re grateful to the legislature and the Governor for building on past success and ensuring that our residents continue to benefit from the New Hampshire Advantage.
“When AFP began advocating for reducing employer taxes, critical voices said it would ‘blow a hole in the state budget.’ Eight years later, the state is seeing record revenues and historically low unemployment. The doomsayers have been wrong from the start and our economy has been the beneficiary.”
AFP-NH worked in both the New Hampshire House and Senate to advance this bill and bring it to the governor’s desk.