Easy and painless SNAP funding solutions
The Sept. 16 Monitor had an article ‘NH families who rely on SNAP may go hungry’ that because of Trump’s cuts to SNAP that the states would have to pick up more of the cost to feed our neediest residents. The question for NH is where will we come up with the additional funds (estimated $6 million) to administer the program? Three suggestions. Bring back the interest and dividends tax. The interest and dividends tax that brought in $183 million in 2024 and was only paid by people who made at least $2,400 (single person) and $4,800 (couple) in interest and dividends. For a single person with $60,000 in CDs at 4% return they would have only paid $73 (20 cents/day) in tax (at 3% tax rate) on their earnings. Another way to cover the shortfall would be to raise the meals and lodging tax back to 9% from it’s current 8.5%. In 2024, the M and L tax brought in $328 million at the lower rate. If the rate had been 9%, the tax revenue would have been about $20 million more. The cost for this is less than a NICKEL on the price of a $5 Happy Meal, or an additional DOLLAR on a $200 hotel room. Hardly onerous. Lastly, get rid of the stupid and expensive school voucher program that could cost, by some estimates, up to $100 million and is mostly subsidizing people who don’t need the subsidy.