CONCORD – House Republican Leader Richard “Dick” Hinch (R-Merrimack) offered the following comments relative to the monthly state revenue report issued by the Department of Administrative Services. According to the report, “Business Taxes for June totaled $111.1 million, which were $17.4 million (18.6%) above plan and $12.4 million (12.6%) above prior year. YTD business tax collections, net of revenue identified as tax amnesty, were above plan by $74.5 million (13.2%) and $73.8 million (13.0%) above the prior year.”

“We continue to believe that conservative revenue estimates pay dividends. While there are a number of factors that contribute to the individual performance of each revenue stream, coming in with a reasonable and well-thought-out revenue picture helps prevent situations where we spend more than we receive, and builds in protection for unexpected events,” said Hinch. “Overall, we’re extremely pleased that the business tax relief passed as part of our state budget has not had a net negative effect on revenues, as the governor would have had us believe less than 1 year ago. The basis for a  robust economy begins with sensible and competitive tax policy. We are able to fund our state’s priorities while demonstrating that we are open for business.”