House Passes Legislation Returning Money to Taxpayers

HB436 Would Pay Down New Hampshire’s Debt

Concord, NH – House Majority Leader Jason Osborne (R-Auburn) released the following statement after the House passed an amended version of HB436, making an appropriation to the New Hampshire retirement system to pay down the unfunded accrued liability on a voice vote.

“The budget we passed last year, although balanced and containing an important tax reduction, nonetheless represented an exorbitant increase in state spending. Any surplus funds extracted from taxpayers in this biennium must be returned to the taxpayers in the form of additional tax rate reductions or given to future taxpayers in the form of paying down our debt. Passage of HB436 is a great start toward ensuring our budget surplus is not squandered. Paying down the state’s debt spends a dollar now, but saves taxpayers many more dollars down the road.”