Statement from Governor Hassan on SB 1 and SB 2

Statement

Governor Maggie Hassan today issued the following statement after the Senate voted to pass Senate Bill 1, reducing the rate of the business profits tax, and Senate Bill 2, reducing the rate of the business enterprise tax:

"As I travel across the state, businesses tell me that investing in priorities such as a strong and healthy workforce pipeline, a modern transportation infrastructure, and safe communities is critical to their ability to grow, thrive and create jobs. They also appreciate our low-tax environment, which the Tax Foundation ranked as the seventh-best in its business tax climate index and we must maintain, but as we face ever-tightening budgets, our people and businesses do not want us to further erode our ability to invest in those shared priorities.

"These two bills would create a significant hole in future budgets with a resulting significant cost to our people, businesses and economy. Because of the fiscal impact of these tax breaks, they should be examined with the same scrutiny as any new spending would be, and supporters of these bills must address how the lost revenue would be offset."

Source