Democrat Maggie Hassan called for expanding middle-class tax credits, increasing the federal minimum wage to $12 and cutting student loan interest rates in an economic plan she laid out Thursday for her U.S. Senate campaign.
The second-term governor also used the speech to launch familiar attacks against Republican rival Kelly Ayotte, saying the state’s junior U.S. senator sides with special interests in Washington and has voted against efforts to make college more affordable.
Hassan’s 19-page economic plan, which she calls Innovate NH 2.0, relies heavily on reforms and ideas implemented here. Hassan offered many proposals, but few details on their cost or how she would implement them in Washington, where many efforts have stalled because of party gridlock.
The plan “lays out common sense fiscally responsible steps we can take together to continue strengthening our economy,” said Hassan, who spoke at SilverTech in Manchester. “We know it is possible to work across party lines to move forward on these critical priorities, because that’s exactly what we have done in New Hampshire.”
The race between Hassan and Ayotte is expected to be one of the most competitive in the country, and could help determine control of the U.S. Senate.
Ayotte’s campaign pushed back on Hassan’s economic plan, saying the Democrat “pays lip service to ‘innovation.’ ”
Hassan “mismanaged the state’s economic development efforts, vetoed the budget last year over modest business tax relief, and rammed through the LLC tax as a state senator,” said Ayotte spokeswoman Liz Johnson in a statement.
Republican Jim Rubens, who is challenging Ayotte in the primary, critisized both women, saying debt is the most serious threat to the economy. “New Hampshire’s US Senator should work to shrink the federal government and reduce its role in shaping investment and hiring decisions,” he said in a statement.
Many of Hassan’s economic proposals align with those of U.S. Senate Democrats, but some overlap with Ayotte’s positions.
Both Hassan, Ayotte and most of the state’s congressional delegation for example, support the federal Export-Import bank, which helps foreign companies purchase U.S. exports.
Hassan called for several changes to the federal tax code. She supports expanding the child tax credit and enacting a new $1,000 annual tax credit for middle class families, those who make less than $250,000 a year. The cuts would be paid for by eliminating “tax breaks for Big Oil,” she said, which allow companies to write off expenses for drilling.
Hassan didn’t provide further financial details about the proposed tax breaks, or what they would cost in total. Hassan told reporters she is “confident this is a balanced, fiscally responsible approach.”
In her economic plan, Hassan also said she supports:
Reducing federal regulation by letting more businesses file their taxes once a year, as opposed to four times annually.
Making the R&D tax credit more readily available to start-ups.
Launching a national student entrepreneurship competition.
Passing the Paycheck Fairness Act, which aims to close the gender pay gap.
Setting a national target of 50 percent clean and carbon-free electricity by 2030.
Reforming the Federal Energy Regulatory Commission permitting process to include more public input. FERC licenses interstate gas pipelines projects.
Establishing a national infrastructure bank, an independent government corporation to support road and bridge projects, among others.
(Allie Morris can be reached at 369-3307 or at amorris@cmonitor.com.)