Our Republican House majority worked with the Republican Senate and Governor Chris Sununu to implement the most empowering state budget in New Hampshire history.
We provided over $100 million to New Hampshire small businesses in Paycheck Protection Plan tax relief.
We expanded the exemptions on employer taxes, exempting an additional 30,000 Granite State small businesses from having to even file taxes after we raised the minimum business tax thresholds.
We reduced the business enterprise tax by 8.33% and the business profit tax by 1.30%.
We cut $100 million in the statewide property tax, putting more money directly into people’s pockets.
Following the devastating economic impact of the COVID-19 pandemic, Republicans in New Hampshire recognized the need for real economic relief and we delivered for all Granite Staters. Our budget truly has a tax cut for everyone, and successful Republican management of our state going forward will enable even further tax reductions and eliminations.
Over the course of the next five years, we are fully eliminating the interest and dividends tax — making New Hampshire a truly income tax free state.
Republicans will continue to fight for Granite Staters and do what we can to reduce the burden of government and allow our economy to thrive. I’m proud of our Republican budget and I’m happy we could deliver such a victory for New Hampshire.