Randy Hilman: Proposed business tax cut leaves working class with bill

To The Daily Sun,

New Hampshire lawmakers are considering a business tax reduction bill (HB 155) that would result in an estimated cumulative revenue loss of $46.3 million over three years for the state’s general and education trust funds.

Proponents say the measure will ultimately stimulate our economy but let’s be stone cold honest about who’s going to cover the shortfall.

When the state cuts business tax revenue, the cost of maintaining schools, police, public health, education and infrastructure isn't magically erased. Our needs don’t disappear because businesses pay fewer taxes. The financial burden simply shifts to everyone else. 

Because New Hampshire has no income or sales tax, that burden shows up in painful ways: Higher property taxes, “user fees,” higher motor vehicle charges, licensing costs, and an ever-growing list of fines and service surcharges.

For the poor and wage-earning classes, these increases hit harder. A $150 fee increase is pocket change to wealthy folk; it’s groceries, heat, electricity, medications, medical and child care for wage-earning and supplemental income families.

Supporters claim corporate tax cuts will spark growth. But the companies that benefit most are often headquartered elsewhere, returning gains to shareholders — not town budgets already scrambling to replace lost revenue. Meanwhile, everyday Granite Staters wind up paying a greater share of their incomes just to keep the lights on.

This bill isn’t about competitiveness. It’s about priorities. Lawmakers are choosing to subsidize corporate profits by asking those with the least financial cushion to shoulder more. That’s flat wrong.

The House has passed HB 155. If the Senate passes it and Gov. Kelly Ayotte signs it into law, New Hampshire will become less fair, less resilient, and even more dependent on our pocketbooks to cover the loss.

Randy Hilman

Moultonborough