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NH hearing on HB155 spotlights split views over small tax cut and $26M revenue hit
Summary
Lawmakers and public witnesses debated House Bill 155, which would lower the business enterprise tax from 0.55% to 0.50%. Supporters said the change aids small, staff-heavy employers and boosts competitiveness; opponents warned of an estimated $26 million yearly revenue loss and called for fiscal safeguards before cuts proceed.
Representative Joe Sweeney (prime sponsor) opened a public hearing on House Bill 155, proposing to reduce New Hampshire's business enterprise tax (BET) rate from 0.55% to 0.50%, with an effective date tied to the 2028 fiscal year. Sweeney said the reduction is intended to continue a decade-long effort to lower business tax burdens, provide relief for small employers and add a tool for recruiting firms to the state.
Committee members pressed the sponsor on measurable goals and accountability. Senators asked whether the bill includes mechanisms to track business recruitment or an "off-ramp" if the revenue impacts are worse than expected; the sponsor said any future legislature…
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