No on HB 155
House Bill 155 FN will again reduce the Business Enterprise Tax (BET) from 0.55% to 0.50%. This continues a trend established in 2016 when the state began reducing the tax.
The New Hampshire Department of Revenue Administration estimates that state revenues will decrease by $46 million over the next three years. This will further strain our public education system, the state house recently removed caps on family income, for voucher payments to parents, for subsidies to non-regulated private schools and home schoolers. If the state maintains school funding, property tax or state fees charged to individuals will rise to make up the difference. One very successful car dealership owner stated that the decrease in the BET will probably cost him more in charges from his accountant than the reductions in the tax.
Such changes make living in New Hampshire more complex. A recent study stated average income for family of four in NH was $99,782.00 but cost of living was $129,768.00. How tone deaf can our legislature be? Is there no limit to the depth of incompetence to which they will not sink? We used to have legislators of concerned citizens that worked together to find solutions to problems that concern people. The problems of housing for young families and retired, cost of health care, rising property taxes, and underfunded public schools are all problems facing our state. What is our state house doing about those issues, lowering the BET? What …?