Marcia Hayward: Ask local representatives to vote ‘no’ on House Bill 155

To The Daily Sun,

As national events dominate the news and justifiably so, Laconians cannot lose sight of what is transpiring at the state level.

On Jan. 8, the New Hampshire House passed HB 155 which gave a second tax cut for the Business Enterprise Tax (BET). This tax along with the Business Profits Tax (BPT) are the largest sources of revenue for the state. The Business Enterprise Tax effects businesses that gross over $300,000. Seventy-five percent of those businesses are large corporations and multinational corporations.

The rationale repeatedly cited for this action is that the cut will encourage business growth. According to the NH Fiscal Policy Institute, a nonpartisan organization that examines economic decisions, there is no data to support such a claim.

The first cut to the BET was in 2017 which has resulted in close to a billion dollars of lost revenue over nine years. It is estimated that this latest cut will result in a $4.3 million loss this fiscal year and $20 million loss in 2027.

It is important to note how Laconia’s state representative voted on this issue. Wards 1, 3, 4, 5, and 6 representatives voted as follows:

• Mike Bordes – yea,
• Steven Bogert – yea,
• Sheri Minor – yea, and
• Charlie St. Clair – nay

Ward 2, which is part of Gilford, their representatives voted as follows:

• Glen Aldrich – not voted/excused,
• Harry H. Bean – yea,
• Russell Dumais – not voted/excused, and
• David Nagel – nay

HB 155 now goes to the Senate. Please contact Sen. Tim Lang at TimothyLang@gc.nh.gov to vote no on HB 155. Also contact state representatives and ask them to justify their vote.

While the state loses revenue, local property taxes increase. It is time to stop giving relief to billionaires and focus on providing relief to every day citizens.

Marcia Hayward

Laconia