House Republican Leader Comments on Budget Surplus

CONCORD – New Hampshire House Republican Leader Gene Chandler (R-Bartlett) released the following statement in response to the New Hampshire General and Education Trust Fund Surplus Statement that announced a $72 million surplus from fiscal year 2013, part of the budget passed by the Republican legislative majority in 2011.

House Republican Leader Gene Chandler (R-Bartlett)

“The budget passed in 2011 was based on realistic revenue estimates and sound fiscal management through spending and tax reforms that helped keep New Hampshire on solid footing through tough economic times. As a result, the original projected deficit of $800 million turned into a surplus of $72 million. Thankfully, the budget that was passed this year mirrors those important provisions, including no new taxes and fees, which Republicans fought for throughout the budget process.”

“With the good news of $15 million more than was originally projected in June, I urge caution. We must not rush into spending this money and show the same fiscal responsibility we have in the past. These surplus funds should be set aside for future emergencies, and not spent on the unnecessary expansion of government.”