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Business Tax Relief: If It’s Not Broken, Don’t Fix It

Feb 14, 2019 by AFP

Grassroots group commends Governor Sununu for supporting existing tax reductions and sustaining last round of tax relief in his budget address

CONCORD, NH – Americans for Prosperity-New Hampshire (AFP-NH) today praised Governor Sununu for committing in his budget address to support the previous rounds of successful business tax relief and including the final round of tax relief to go into effect on January 2021. Since business tax relief has gone into effect, New Hampshire’s economy has boomed. New Hampshire posted record tax revenues last year and a recent report named New Hampshire as the healthiest economy in the country, while a federal report shows New Hampshire has the fastest growing economy in the Northeast.

“Tax relief for employers has been the catalyst for our booming economy and rolling back the pro-growth policies that created this environment is the worst move our lawmakers could make. Record tax revenues, 2% unemployment, and net migration of young people show the success of tax relief. We are pleased Governor Sununu is committed to keeping New Hampshire on the path of low taxation and economic growth,” said Greg Moore, AFP-NH State Director. “More tax relief means more opportunity for success and we are ready to work with lawmakers to keep our thriving economy going.”

Background:

AFP-NH has been the state’s leading grassroots advocate for business tax relief. Starting in 2014, AFP-NH’s sister organization, Americans for Prosperity Foundation, issued a study that raised the issue of New Hampshire’s high business taxes. In 2015, the chapter led efforts to override Governor Hassan’s veto of tax cuts.

The federal Bureau of Economic Analysis shows that New Hampshire with the fastest GDP growth in the Northeast.

Businesses tax cuts have led to more jobs and resulted in the state receiving record-high revenues.

Read Greg Moore and Bruce Berke’s op-ed here on tax relief boosting the state’s economy and adding jobs.