House Republican Leader Reacts to House Democrats’ Capital Gains Tax Proposal

CONCORD – House Republican Leader Dick Hinch (R-Merrimack) issued a statement in reaction to the House Ways & Means committee vote late Tuesday on HB 686, relative to calculating and funding the interim cost of an opportunity for an adequate education and extending the interest and dividends tax to capital gains.

The bill would extend the interest and dividends tax to capital gains.

“House Democrats appear to be looking for new things to tax and interesting ways to tax them. This bill will suck tens of millions of dollars out of the pockets of some citizens to provide a small level of property tax relief for others. We’re hearing a lot this year from Democrats about tax relief, but to me, tax relief does not mean tax expansion or tax increases, which is what we’re seeing at every turn. Property taxes and education funding are big issues, and we have several proposals looking at ways to address them this year, but this new tax on capital gains is a non-starter for Republicans.”