House Republican Leaders React to $17m in Business Taxes and $26m in Aggressive Auditing in Governor’s Budget

CONCORD – House Republican Leader Gene G. Chandler (R-Bartlett) and House Republican Policy Leader Laurie Sanborn (R-Bedford) today offered the following statements following review of the executive summary of Governor Hassan’s budget, which on page 7 adds auditor positions to aggressively target small businesses resulting in $26 million in tax revenue. The budget proposal also blocks tax relief to employers by repealing tax reductions passed by the previous legislature intended to promote job creation. The Governor’s revenue summary on page 8 estimates suspending those tax laws will result in $17 million in taxes on small businesses.

House Republican Leader Gene G. Chandler

“In order to improve the economy, it’s imperative that we continue to make New Hampshire more business friendly. Under the Governor’s plan, tax reforms passed by the previous legislature that would have resulted in savings to our small businesses will no longer take effect. The net result is $17m in taxes coming directly out of the pockets of our job creators over the next biennium. This is not the innovative approach we would have expected.”

House Republican Policy Leader Laurie Sanborn

“I am deeply concerned about the numerous tax increases in this budget, and it’s affect on the hard working families and employers of our state. The Governor talks about improving the economy but in her budget she proposes a number of anti-business tax increases and aggressive audits that she anticipates will bully an additional $26m out of our small businesses. We need to encourage responsible business success and job creation, not impose disincentives and barriers for economic growth as this budget does.”