Concord, NH – Today the New Hampshire Senate and House of Representatives passed the committee of conference report for the biennial state budget. Senate Republican Leader Chuck Morse (R-Salem) and House Republican Leader Dick Hinch (R-Merrimack) issued the following statements:
“The budget passed today by Concord Democrats is nothing short of a half-baked plan that will only lead to an income and capital gains tax in the future,” said Senate Republican Leader Chuck Morse (R-Salem). “The ill-conceived education funding formula was presented to the committee of conference without any vetting and will be unsustainable in the future. The formula will resurrect donor towns, that we already know is a failed system, and increase the statewide property tax.”
“Senate Democrats will need their long sought-after income tax, capital gains tax and litany of other taxes to pay for their thoughtless education funding formula, a proposition I could never support. Education funding is a problem, but the Republican proposal to restore stabilization grants is a more effective starting point,” Morse added.
“Democrats have made the decision to raise taxes and jeopardize our economic success in order to grow government and increase spending at record levels,” said House Republican Leader Dick Hinch (R-Merrimack). “Republicans stood united today against this unbalanced, deficit-ridden spend-a-thon to demonstrate we have the governor’s back when he vetoes this budget.”
“Democrats have already shown this year that they are willing and able to pass an income tax or capital gains tax. Even if those aren’t in this document, they’ve laid the groundwork for it through this fiscal irresponsibility. If you like the idea of an income tax, you’ll love this budget. This budget is unbalanced and built on inflated revenues that will lead us into structural deficits in the short term. It spends one-time revenue on the growth of government, which will hurt us now and in future budgets. It’s time for Democrats to wake up and put forward a budget that does not set us up to fail.”